A technical analyst I follow closely is Ethereum (ethereum) and the broader altcoin market is poised for an unexpected macro rally.
pseudonymous analyst known as TechDev To tell His 403,000 Twitter followers say several different indicators suggest the cryptocurrency market has bottomed out and is gearing up for what’s next.
technology development stock Altcoin Market Cap and Litecoin (LTC) Bitcoin (Bitcoin) pair (LTC/BTC) forms a bullish structure, while the US Dollar Index (DXY) and Bitcoin dominance all show weakness at the same time.
“Altcoin caps, DXY, BTC dominance, and LTCBTC provide clues about broader market cycle positions.”
A popular analyst also claims that Ethereum is showing strength against Bitcoin, further suggesting a bullish chapter for altcoins is coming. Shared by candlesticks, the Relative Strength Index (RSI) seems to indicate a possible break out of the downtrend.
Macro bullish altcoin chart. ”
TechDev says Tether has a potential drop-off (USDT) control. USDT’s dominance is often inversely related to the movement of the cryptocurrency market. This is because traders may sell stablecoins for risky crypto assets during bull markets and buy them back during bear markets.
Analysts say the dominance of stablecoins is “on the cliff”, suggesting that buying pressure may flow into the cryptocurrency market cap.
“Things are coming.”
To tell Analyst,
“In my opinion, this next altcoin move is likely to catch the majority off guard.”
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.
Generated image: In the middle of the journey