The cryptocurrency market received moderate support from retail buyers over the weekend. Over the past 24 hours, the capitalisation of all coins rose 0.22%, according to CoinMarketCap, approaching $1.97 trillion. The top altcoins lost 11-19% over 7 days but found buyers over the weekend. The $2 trillion mark in total crypto valuation turned into local resistance last week, from where pressure has intensified. However, a strong buy-the-deep mood has kept the market from forming a downward spiral.
The cryptocurrency Fear & Greed Index was stuck at 23 over the weekend, indicating extreme fear. The index has been hovering at the lower half of the scale since November 18th. Optimists, however, may note that the indicator has bounced back from the 10 level. The dip here in May and July coincided with the lows within the impulse, hinting at the potential for some technical rebound.
Technical analysis also suggests a rebound in BTCUSD, with the RSI on daily charts showing attempts to move