HomeLatest NewsCrypto cap falls to $2.32T; charts show $1.7T target

Crypto cap falls to $2.32T; charts show $1.7T target

Posted: 2 June 2026, 20:03 CET 2 min read

Total crypto market cap fell to $2.32T after about a 17% drop in under three weeks; rejection at $2.7T and an oversold RSI set a $1.7T chart target.

The total cryptocurrency market capitalization fell to about $2.32 trillion after roughly a 17% decline in less than three weeks. Traders pointed to a technical rejection near $2.7 trillion and a weekly candle drop of about 6.6% that moved the cap into the $2.3 trillion area.

On the weekly chart, the $2.7 trillion level has flipped between support and resistance since 2022. The $2.3 trillion zone acted as resistance in April 2022, was a consolidation range between March and October 2024, and became support in April 2025. Price broke down from an ascending parallel channel that supported the uptrend through 2024 and 2025; the measured target from that pattern is near $1.7 trillion.

The daily chart shows the market confined to a descending parallel channel since the October all-time high of $4.27 trillion. The current daily candle is down about 4.4%, placing the total cap at the edge of the $2.3 trillion support band. The daily Relative Strength Index returned to oversold territory for the first time since early February 2026.

Major tokens moved lower on the session. Bitcoin traded near $67,400, down roughly 4.5% on the day. Ethereum, BNB, Solana and XRP also posted losses. The CoinMarketCap Fear & Greed Index registered 26, a reading classified as extreme fear.

Technical levels converge near $1.7 trillion: historical support at that level, the weekly channel measured target from the breakdown and the lower boundary of the daily descending channel all lie in a similar zone, about a 27% decline from current values. A short-term bounce from the $2.3 trillion area remains possible.

The pattern from the charts would be invalidated if the market reclaims $2.7 trillion on a weekly close and if the RSI breaks above its descending trendline that began in March 2024. Market participants may monitor for a large liquidation event before any sustained recovery. The timeframe for a move toward $1.7 trillion could span weeks to months and will depend on how quickly $2.3 trillion gives way and on broader macroeconomic conditions.