The situation with altcoins, following the recent market dump, is traditionally worse. Moreover, there are reasons to believe that a V-shaped reversal will not happen this time.
When our #P73Signals started sending signals of a stable downtrend on the hourly and two-hour timeframes in the early part of the day yesterday - it turned out to be an early signal of a dump. And today, signals about the transition of several altcoins into a stable downtrend have already come through on the daily timeframe.
A total of 63 tokens and coins from the TOP-200 crypto assets by market capitalization. Another 26 signals about the transition to a stable downtrend are available on the 12-hour timeframe.
Some of the assets on the list overlap, while others are new, for example, the flagship of the altcoin market - #ETH. Considering our analyses, there is no time for corrections - it's time to rise to ATH. But there are targets for declines that cannot be ignored: $3,559, $3,415, $3,270.
Many projects on the list on the daily timeframe are also significant, top ones. And the targets for correction are not small. Overall, we are talking about projected movements of up to -15% on the 12-hour timeframe and up to 20-25% on the daily. As always, we will show several signals for the daily timeframe, let's say 6, 10% of all signals:
- #ADA,
- #SHIB,
- #FET,
- #STRK,
- #MANA,
- #ARKM.
Targets are on the screenshots. For some of the assets, the intermediate supports are EMA 50 and 200 of the daily timeframe.
I really wouldn't want to see a complete fulfillment of all the targets from the received signals. And to dilute the impulses embedded in them with a range, after fulfilling only the nearest targets. There are arguments for such a scenario, and they boil down not only to 'altcoins, you can't fall forever!' 😁. Dominance at important resistances.
- On the weekly timeframe of BTC dominance:
-- We have reached the retest of the breakout of the global trend support of the entire growth of dominance since November 2022.
-- We have almost reached the Potential break level of the stable downtrend according to our indicator. This is 58.65% and it is already being tested (acting as resistance, it is important to stay below the body of the closed weekly candle).
- On the USDT+USDC dominance chart:
-- Dominance has reached a descending trend resistance that has been in place since October 2023 (marked with a dashed line). It worked well, for example, at the end of January 2024. And since November 11, it has consistently acted as an effective resistance for the growth of stablecoin dominance on November 26 and December 10. However, a caveat is needed here - primarily due to the growth of #BTC.
Currently, #P73Signals has a lot of signals on the hourly and two-hour timeframes about achieved potential lows. Including a Strong signal. This is also a plus for the scenario in which we will manage without a significant decline in altcoins. Considering that there can be up to three such signals per asset - we are talking about reaching extremes within 3-6 hours after the first signal.
