Slight rebound within a bear market
Market overview
The crypto market capitalisation gained about 2%, returning to the $3.14T level. The good news is that the latest local low fits into the upward trend of higher lows since the end of November. The bad news is that resistance near $3.20T has remained in place all this time. The spring is compressing, promising an end to the relative calm in the next few days. The market will need to decide on a direction for the coming weeks.
The cryptocurrency sentiment index has been stuck at 29 for the last two days, its highest level since early November. The exit from the zone of extreme fear and the prolonged period of calm are working in favour of the bulls, significantly increasing the chances of a bullish rally soon. At the same…
