The post SOL, XRP and Other Altcoins To Buy As Bitcoin Dominance Drops appeared first on Coinpedia Fintech News
The crypto market is showing early signs of change. Bitcoin, which has led most of the market for years, is now starting to lose its dominance. This shift often means the start of an altcoin rally, where smaller coins rise faster than Bitcoin. An analyst has explained why now could be the time to stack some of the important altcoins.
Bitcoin's Grip on the Market Is Weakening
Bitcoin Dominance tracks how much of the total crypto market is made up of Bitcoin. Right now, that dominance is breaking down and testing its last major support level. If it fails to hold, it could be the trigger for altcoins to surge. In the past, whenever Bitcoin's dominance dropped, it opened the door for altcoins to steal the spotlight and rally hard.
What’s even more interesting is that many altcoins have already printed strong bullish candles over the last month. While the start of this week saw some red, it now looks like that dip was just a trap. The market is already seeing signs of recovery as buyers step back in.
Strong Altcoins Showing Signs of Life
Solana is currently trading in the $164 to $170 range. It’s sitting right on a strong support level and is showing bullish structure. If it breaks through the trend resistance, it could quickly push up to $210 or more.
Cardano is actually looking even stronger than Solana at the moment. After a bounce from recent lows, it’s back in a bullish setup and could be getting ready to break out. The analyst said that the buy zone is near $0.72 to $0.74.
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XRP recently broke out of its long downtrend and is now retesting the breakout level. This is a classic pattern seen just before a big move higher. SUI has dropped into a key buying zone and could turn around soon. Algorand has also bounced from support and may continue higher.
Altcoin Market Shows Bullish Signs
Looking at the altcoin market without Bitcoin and Ethereum, the charts show a bull flag pattern. This setup often leads to a big breakout. If that happens, altcoins could surge quickly toward previous all-time highs.
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FAQs
Bitcoin dominance is a metric that shows Bitcoin's market cap relative to the total crypto market. A drop in dominance often signals a shift of investor capital to altcoins.
A bullish structure on a chart means the altcoin's price action is showing technical patterns, such as higher lows, that suggest a strong upward price movement is likely.
Analysts say it may be a good time, as many altcoins show bullish patterns and Bitcoin dominance weakens.
