Altcoin dominance analysis - weekly chart.
Since the beginning of January 2020 altcoins are dominating the market and even performed breakout from descending broadening wedge. The long-term expectation is that Altcoin might have a 70-75% dominance on the market.
However "shortly" it looks like that we're facing a double top formation just on the red resistance. It would be good to wait sometime to see if the price will retrace for a bit more. In some cases, such tops lead to a price correction, in this case, we can aim down to 45% altcoin dominance.
Since the beginning of January 2020 altcoins are dominating the market and even performed breakout from descending broadening wedge. The long-term expectation is that Altcoin might have a 70-75% dominance on the market.
However "shortly" it looks like that we're facing a double top formation just on the red resistance. It would be good to wait sometime to see if the price will retrace for a bit more. In some cases, such tops lead to a price correction, in this case, we can aim down to 45% altcoin dominance.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.