Last weeks candle close was a historic moment for the Altcoin market. The 50-week, 100-week and the 200-week moving averages met for the total altcoin market cap, meeting at $77 Billion. The entire market cap had to work its way through this level, but cleared it with a close last week at $83 Billion. While we are still wating on several other cyrptocurrencies to break out, including the Ripple XRP price chart, it is a positive sign for the rest of the market.
However, we must be aware that we have not cleared the important retrace levels from the February / March crash. The altcoin market cap needs to clear $93 Billion and $100 Billion before more bullish signs can emerge.
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