Swissblock: Altcoins show early accumulation, momentum is muted.

Analysts at #Swissblock indicate that large/mid/small caps are holding during the correction of #BTC and the sluggish consolidation of #ETH and have gathered at the boundary of the "Accumulation" zone. This is the early stage of position building, but the "breakout speed" has not yet been reached.

More details can be seen from the Swissblock metrics:

- "Altcoin quadrants": clusters are shifted towards the accumulation zone - buyer support is visible, but there is no momentum for a breakout.

- Resistance for #BTC is around $123,800, support is around $112,700.

- The share of altcoins with positive momentum is around 2%, negative momentum is 0%. It can be said that altcoins are holding steady, but the "engine is running idle".

- The leading indicator is #ETH, it reacts faster than #BTC, and the rest of the basket follows it (classic second phase).

Adding from our side - it is now important to monitor the dominance of #BTC and the ETH/BTC pair; they should show an open window for continued rotation into altcoins. And those who are waiting for a scam in the alt sector will be greatly disappointed.