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$BTC Bitcoin Holds Above $103K, But Altcoins Start Fighting Back

♦️Bitcoin holds above support, but dominance nears a strong resistance zone.

♦️Altcoins closed a green monthly candle, showing early signs of strength.

♦️Ethereum testing key levels near 200-day average for breakout.

♦️Bitcoin’s price has been rising and recently made an attempt to break above $105,000. However, it is now trading just below $104,000, still holding strong above key support levels.

$BTC Bitcoin Dominance Reaches Key Resistance, Pressures Altcoin Performance

Bitcoin Holds Above $103K, But Altcoins Start Fighting Back

Table of Contents

Market Musing-g

Bitcoin Holds Above $103K, But Altcoins Start Fighting Back

Bitcoin Dominance Reaches Key Resistance, Pressures Altcoin Performance

Altcoins Show Underlying Strength Despite Market Fear

Bitcoin holds above support, but dominance nears a strong resistance zone.

Altcoins closed a green monthly candle, showing early signs of strength.

Ethereum testing key levels near 200-day average for breakout.

Bitcoin’s price has been rising and recently made an attempt to break above $105,000. However, it is now trading just below $104,000, still holding strong above key support levels.

Bitcoin Dominance Reaches Key Resistance, Pressures Altcoin Performance

Meanwhile, Bitcoin dominance has also increased and is now hitting a major resistance zone between 60.30% and 65.20%. This range has acted as a barrier in the past. Many analysts had hoped Bitcoin would slow down to give altcoins a chance to rally, but that hasn’t happened yet.

With about 20 days left in the month, there’s a chance Bitcoin’s dominance could rise even higher. This is important for altcoins because when Bitcoin dominance increases, altcoins usually struggle to keep up. A possible warning sign is emerging too — momentum indicators like the Stochastic RSI are showing a divergence