altcoin Dominance - Weekly
according to the charts, altcoins are occupying 58.77% of the whole crypto market listed on exchanges. Based on technicals this could be changed in the near future since we're facing two extreme bullish formations.
1st case can be interpreted as a double bottom after the extreme rally. In order to confirm that formation, we need to cross the neckline - purple line. Target estimation for that case is located at 68%
2nd case. I expect another minor correction in Altcoin dominance, which would make a series of higher lows as presented on the chart and formation of ascending triangle. The estimated target for this case is 70.85%.
Based on those two patterns and extremely bullish chart on ETH/BTC you can guess what follows :D
according to the charts, altcoins are occupying 58.77% of the whole crypto market listed on exchanges. Based on technicals this could be changed in the near future since we're facing two extreme bullish formations.
1st case can be interpreted as a double bottom after the extreme rally. In order to confirm that formation, we need to cross the neckline - purple line. Target estimation for that case is located at 68%
2nd case. I expect another minor correction in Altcoin dominance, which would make a series of higher lows as presented on the chart and formation of ascending triangle. The estimated target for this case is 70.85%.
Based on those two patterns and extremely bullish chart on ETH/BTC you can guess what follows :D