Crypto Total Market Cap Excluding BTC (TOTAL2) - Daily Timeframe

1. Market Overview:
Current market cap: $1.05T (+0.83%)

The market cap has bounced from recent lows (~$827B) and is showing some recovery.

The Fibonacci retracement levels suggest key areas of resistance and support.

2. Fibonacci Levels & Market Structure:
The downtrend retracement from the recent high ($1.64T) to the low ($923B) is mapped with Fibonacci levels.**

23.6% ($1.09T) and 38.2% ($1.2T) retracement levels are key resistances.

Major resistance around $1.28T (61.8% Fib), which aligns with previous consolidation zones.

If the price fails to break above $1.09T convincingly, a potential retest of the $923B-1T range is possible.

3. RSI & Momentum:
RSI is showing slight bullish divergence, indicating that selling pressure is reducing.

RSI is currently below 50, meaning there is still cautious sentiment, but an upward break could confirm a bullish shift.

4. Key Scenarios:
✅ Bullish Case: If TOTAL2 reclaims $1.09T and holds above, it could target $1.2T and then $1.28T.
❌ Bearish Case: Failure to break $1.09T might result in a pullback towards 1T or lower.

Conclusion:
Short-term: Neutral to slightly bullish (needs confirmation above $1.09T).

Long-term: Needs a break above $1.2T for trend reversal confirmation.

Watching volume and RSI movement is crucial for next moves.

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