Cryptocurrency Market Shows Resilience Amid Consolidation Phase
Cryptocurrencies demonstrate stability with signs of upward potential as altcoins breach key resistance levels. The TOTAL3 index, tracking altcoin market capitalization, now trades firmly above 790 billion after retesting its ending diagonal resistance-turned-support line. A sustained breakout could propel the sector toward 860 billion, contingent on the development of a five-wave rally structure from April lows.
Market volatility remains a double-edged sword. While cryptocurrencies exhibit stronger risk-reward profiles during bullish phases, they remain vulnerable to sharp corrections in risk-off environments. Their inherent volatility continues to outpace traditional assets like equities, creating both opportunities and hazards for traders.
