A crypto analyst is predicting that altcoins are about to surge in value, potentially outperforming Bitcoin.
Altcoins on the Rise
Ali Martinez, a popular crypto analyst, believes that the time for altcoins to shine is near. He points to two key indicators:
- Bitcoin Dominance: The share of the crypto market controlled by Bitcoin is nearing the end of a downward trend, which is a bullish sign for altcoins.
- Altcoin Market Cap:
The overall market cap of altcoins (excluding stablecoins and the top 10 coins) is breaking out of a downward trend, suggesting a potential surge in value.
Martinez says, “Things are getting interesting! Bitcoin dominance is showing signs of a potential breakdown, while the altcoin market cap is breaking out. Altcoin Season is just around the corner!”
Dogecoin on the Move
Martinez also sees potential for Dogecoin (DOGE), the biggest memecoin, to rally. He believes that DOGE is about to break out of a downtrend and is poised for a significant increase in value.
“Dogecoin is gearing up for a bullish breakout! The RSI, which measures momentum, has already broken out of a downtrend. Now we need DOGE to break through the $0.11 resistance level.”
Solana Faces Potential Correction
While Martinez is optimistic about altcoins in general, he warns that Solana (SOL) could be facing a correction. If it fails to break through the $154 level, SOL could drop as much as 40% to $85.
“Solana needs to break through $154 soon because rejection at this level might trigger a correction, with $85 as the next key support.”
Remember: This is just one analyst’s opinion. Always do your own research before making any investment decisions. /p>
