Technical indicators confirm crypto market breakout, new macro peak targeted

The TOTAL cryptocurrency market has shown emerging signs of a potential breakout after weeks of sideways consolidation, according to technical analysis metrics. The market capitalization, which had appeared stagnant in recent days, is now exhibiting a shift in momentum as key indicators align with a bullish trajectory [0]. The monthly price range has flipped to the upside, breaking through a previously defined consolidation zone, while the 1-month Relative Strength Index (RSI) is approaching overbought territory—a pattern historically associated with the continuation of upward trends during bullish cycles [0].

The On-Balance Volume (OBV), a critical measure of cumulative buying pressure, has confirmed a breakout, reinforcing the likelihood of sustained price momentum. Historically, OBV breakouts have often preceded significant price movements, as they reflect consistent accumulation across the market [0]. Analysts argue that the recent OBV confirmation signals a transition from a period of indecision to one of directional clarity, with the current trajectory suggesting a potential focus on establishing a new macroeconomic peak [0].

Market participants are also interpreting the technical signals as a warning against overthinking short-term pullbacks. For instance, @Crypto_Scient’s July 29 commentary emphasized that the sideways phase may be concluding, urging investors to avoid missing "the next leg up" by fixating on potential dips toward levels such as $60K for Bitcoin [0]. The analysis highlights that the consolidation window may have closed, with the market now favoring a continuation of the upward trend rather than a corrective phase [0].

These developments have prompted a reevaluation of investment strategies among crypto traders. The combination of RSI overbought readings and OBV validation suggests that caution may no longer be warranted in the immediate term, provided the technical conditions hold [0]. However, observers caution that while the current signals are bullish, the market remains vulnerable to macroeconomic shifts or regulatory developments that could reverse the trend. For now, the focus appears to be on maintaining conviction in the upward trajectory, with the macro top emerging as the next major target [0].

Source: [0] TOTAL Crypto Market Signals Breakout Momentum, [https://coinmarketcap.com/community/articles/6889a0e313fbdc7b20c0eb17/](https://coinmarketcap.com/community/articles/6889a0e313fbdc7b20c0eb17/)