Altcoins To Have ‘Severe Corrections?’ Analyst Issues Warning
- Ethereum’s rise over Bitcoin is helping altcoins gain some momentum.
- Bitcoin dominance chart hints at a possible trend change ahead.
- Omni, Optimism, and Celestia are showing signs of upward movement.
After days of slow movement, the altcoin market is starting to recover. Popular analyst Crypto Michael said Ethereum is one of the reasons behind this change. Ethereum has been performing better against Bitcoin lately and this shift has helped altcoins.
However, he also warned that the Bitcoin dominance chart shows signs of a trend reversal, which could lead to sudden changes in the market. Even though altcoins are showing some strength, sharp price drops are still expected.
“The altcoins are likely going to have severe corrections (like last week), which can be utilized to accumulate more,” the analyst said.
Bitcoin Still in a Tight Range
For more than two weeks, Bitcoin has been moving within a narrow price range. But since the market has already tested the lower end of this range, the analyst said that a push toward higher levels could be next.
If that happens, the market might even see a new …
The post Altcoins To Have ‘Severe Corrections?’ Analyst Issues Warning appeared first on Coin Edition.
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Altcoins To Have ‘Severe Corrections?’ Analyst Issues Warning
- Ethereum’s rise over Bitcoin is helping altcoins gain some momentum.
- Bitcoin dominance chart hints at a possible trend change ahead.
- Omni, Optimism, and Celestia are showing signs of upward movement.
After days of slow movement, the altcoin market is starting to recover. Popular analyst Crypto Michael said Ethereum is one of the reasons behind this change. Ethereum has been performing better against Bitcoin lately and this shift has helped altcoins.
However, he also warned that the Bitcoin dominance chart shows signs of a trend reversal, which could lead to sudden changes in the market. Even though altcoins are showing some strength, sharp price drops are still expected.
“The altcoins are likely going to have severe corrections (like last week), which can be utilized to accumulate more,” the analyst said.
Bitcoin Still in a Tight Range
For more than two weeks, Bitcoin has been moving within a narrow price range. But since the market has already tested the lower end of this range, the analyst said that a push toward higher levels could be next.
If that happens, the market might even see a new …
The post Altcoins To Have ‘Severe Corrections?’ Analyst Issues Warning appeared first on Coin Edition.
Read More