Altcoin dominance is approaching a critical juncture as it compresses at the tip of a falling wedge pattern that has been forming since 2018. Currently at 7.3%, this metric signals a potential volatility expansion, with the Relative Strength Index (RSI) trending upward, indicating exhausted selling pressure. Analysts suggest this could lead to a capital rotation into mid-cap and small-cap assets.
Bitcoin dominance remains between 57% and 59%, but the technical setup for altcoins suggests a possible shift. Historical patterns indicate that breakouts from such formations often result in significant rallies, potentially heralding an "altseason." Key indicators, including RSI divergence, support this outlook, hinting at a momentum shift that could favor altcoin expansion. However, traders are advised to watch for volume spikes and confirmatory candles to validate this potential breakout.
Altcoin Dominance Poised for Breakout Amid Bullish Technical Signals
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