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To track the overall performance of sub-coins, we only need one piece of data: OTHERS
What is the current status of OTHERS data as of March 12, 2024?
What is OTHERS?
The OTHERS data calculates the total market capitalization of all but the top 10 instruments in crypto.
Well, let him calculate, I seem to hear you say what is the difference from TOTAL2 or TOTAL3 for us. When calculating TOTAL2 and TOTAL3 data, we also take into account stablecoins with very high market caps, such as USDC and USDT. This can mislead us in predicting the price movement of altcoins.
When investors sell their altcoins, they can switch to stablecoins like USDT or USDC, which doesn't change the data like TOTAL2 or TOTAL3.
Technical Data (weekly) 📈
The momentum is quite strong, supporting the bull.
The RSI is in the overbought zone at 87 points, but we have seen it rise to 96 points in the previous bullish period. Of course, this does not mean that the same will happen, but if we consider the situation of repeating the cycle, we can expect a correction.
When we look at the ADX, we can see that the bulls are losing strength, pointing to a possible correction.
Thank you 🙏 for reading
#OTHERS altcoin