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USDT Dominance, Total, Total 2 & Total 3 marketcap update – 12 HR chart
Earlier today we saw bitcoin jump from $41,000 to $43,000, this resulted in the USDT.D breaking the daily ascending support line, which comes from November 2021. This is as cash flowed out of stablecoins into the trading market. A break of the four-month daily ascending support line is very bullish for the market, as we see more and more cash now flowing into the market, and it is also a very good signal for a continued uptrend.
Over the last three weeks, there have been several attempts for the total marketcap to break the daily descending resistance line that comes from November 2021. There was finally a positive break of this resistance line on March 16, 2022. The total marketcap value has moved up over the last week, and is currently at $1.88 trillion. There have previously been two failed attempts to break through the major $2-trillion resistance level, over the last two months, and we expect that, once again, this level will possibly act as resistance, once value gets there.
Total 2 marketcap
The Total 2 marketcap is a measurement of the capitalization of the crypto market, but excludes bitcoin. This chart indicates how bullish the alternative coins are in the market. The Total 2 chart broke through the daily descending resistance line on March 17 which comes from November 2021. This break of the resistance line, is a very bullish indication that the flow of money was also entering the alternative coin market. The current value is sitting at $1.07 trillion, with the next resistance being at $1.15 trillion. Strong support is at around $1 trillion.
Total 3 marketcap
The Total 3 marketcap is a measurement of the capitalization of the crypto market, but excludes both bitcoin and ether. This cart indicates how bullish the alternative coins are in the market, but excluding ether. The Total 3 marketcap chart broke through the daily descending resistance line on March 18 which comes from November 2021. The break of the resistance line is a very good indicator that cash is now flowing into the rest of the altcoin market. The current value is sitting at $716 billion, which is now above the $700 billion support, with the next resistance being at $750 billion.