Bitcoin’s Rising Dominance Rate Challenges Altcoin Boom From 2021
The ascent in bitcoin’s dominance rate is consistent with the bullish breakout in June, which marked the end of a prolonged range play between 38% and 48%.
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Technical Analysis
The ascent in bitcoin’s dominance rate is consistent with the bullish breakout in June, which marked the end of a prolonged range play between 38% and 48%.
Ether’s daily chart (TradingView/CoinDesk)
An inverse head-and-shoulders pattern, one of the most trusted indicators known to presage major price rallies, is building in the altcoin market.
Moving average crossovers are lagging Indicators. That said, the latest death cross is consistent with the dour regulatory outlook.