Crypto Update: Coins Are Waking Up, More Upside PotentialJul 16, 2024

Cryptos making some new recovery, and more upside is likely to come, but after some intraday correction which may unfold still this week, and then more upside after probable Ethereum ETFs launch.

Looking at the crypto-total market cap, excluding the top 10 coins, we can expect that altcoins will also perform well in the upcoming days, possibly even weeks, as the correction from April highs appears to be ending. So far, we’ve seen a very nice bounce up to $240 billion, and a retest of the channel could happen this week. A similar idea applies to the crypto-total market cap excluding Bitcoin, where an ABC drop suggests that the flat correction wave 4 has finished. More upside is expected now as the market moves above $1 trillion, with huge upside potential, especially after intraday dips.

Grega

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