The altcoin market is showing a significant weekly bullish divergence against Bitcoin, indicating a potential shift in momentum. This pattern, marked by lower prices and rising technical indicators such as the Relative Strength Index (RSI), suggests weakening selling pressure and growing buyer interest. Historically, such divergences have preceded periods where altcoins outperform Bitcoin.
The current divergence is notable, with increasing trading volume suggesting the onset of an altcoin rally. If this trend persists, Bitcoin's market dominance may decrease, potentially leading to capital inflows into mid and lower-cap cryptocurrencies. This could signal the start of a new altcoin-led phase in the crypto market cycle.
Altcoin Market Signals Potential Uptrend with Bullish Divergence
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