财经少华
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Bitcoin's dominance is "critical" for altcoins
The cryptocurrency market is entering a critical transformation phase. After several weeks of continuous growth, especially for altcoins, market momentum has begun to slow down, which usually indicates that the market is about to experience volatility or false breakouts.
Historically, Bitcoin always rises first. When it slows down or begins to consolidate, altcoins often catch up and rise sharply. However, the situation is changing, and Ethereum is showing signs of losing momentum.
The key trend line on the Bitcoin dominance chart is on the verge of breaking. If this happens, it could mean that Bitcoin will start to strengthen rapidly, while altcoins will face significant pullbacks.
If the trend line breaks, the price usually retraces quickly, sometimes even dropping significantly by 10% to 20%. However, true liquidity lies below, in the area of $112,000 to $114,000. A quick drop to this area could shake out weak investors and prepare for the next substantial rise.
Before a major surge, there is often a brief and sharp decline. This paves the way for a stronger rebound. If Bitcoin's dominance rises rapidly and then falls back just as quickly, it may ultimately push dominance up to around 50%. The real altcoin season often starts from here, with a significant rise across the board.
ETH faces strong resistance around $3,900 and may pull back or consolidate in the short term.
SOL has recently broken out but needs to hold above $190 to maintain bullish momentum.
XRP shows signs of possibly retracing below $3 in the future, as bearish signals are forming but have yet to be confirmed.
LINK is retesting the critical support level of $17.50 to $18, holding this level would be favorable.
Overall, while there may be a short-term decline, the long-term trend for these altcoins remains optimistic.
#BTC #ETH SOL
The cryptocurrency market is entering a critical transformation phase. After several weeks of continuous growth, especially for altcoins, market momentum has begun to slow down, which usually indicates that the market is about to experience volatility or false breakouts.
Historically, Bitcoin always rises first. When it slows down or begins to consolidate, altcoins often catch up and rise sharply. However, the situation is changing, and Ethereum is showing signs of losing momentum.
The key trend line on the Bitcoin dominance chart is on the verge of breaking. If this happens, it could mean that Bitcoin will start to strengthen rapidly, while altcoins will face significant pullbacks.
If the trend line breaks, the price usually retraces quickly, sometimes even dropping significantly by 10% to 20%. However, true liquidity lies below, in the area of $112,000 to $114,000. A quick drop to this area could shake out weak investors and prepare for the next substantial rise.
Before a major surge, there is often a brief and sharp decline. This paves the way for a stronger rebound. If Bitcoin's dominance rises rapidly and then falls back just as quickly, it may ultimately push dominance up to around 50%. The real altcoin season often starts from here, with a significant rise across the board.
ETH faces strong resistance around $3,900 and may pull back or consolidate in the short term.
SOL has recently broken out but needs to hold above $190 to maintain bullish momentum.
XRP shows signs of possibly retracing below $3 in the future, as bearish signals are forming but have yet to be confirmed.
LINK is retesting the critical support level of $17.50 to $18, holding this level would be favorable.
Overall, while there may be a short-term decline, the long-term trend for these altcoins remains optimistic.
#BTC #ETH SOL
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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