A significant shift is occurring throughout the cryptocurrency market. There’s a wave of breakthroughs occurring across various sectors, driven by traders and investors who anticipate that the market will surge higher due to the anticipated Trump presidency impact.
Trump boosts cryptocurrency
Present circumstances might resemble no other era in history. We’re witnessing a critical juncture financially, where traditional paper currencies may have outlived their practicality. Instead, we can anticipate the emergence of digital value systems, and this shift is likely to stem from the groundbreaking realm of cryptocurrency.
A significant turning point in the emerging world is the upcoming presidency of Donald Trump. Not only does Trump express support for Bitcoin, but he also acknowledges the innovative possibilities of cryptocurrencies, and as such, has classified cryptocurrency as a national priority. With this context in mind, we’ll now consider altcoins.
Total3 big breakout
The Total3 graph represents the total market value of all cryptocurrencies apart from Bitcoin (BTC) and Ethereum (ETH). It offers a glimpse into the performance of alternative coins, and the graph suggests a dynamic, high-speed movement in the altcoin market.
The market cap of the triangle’s breakout has exceeded $1 trillion and currently stands at $1.09 trillion. A new record high was achieved a few weeks ago, reaching $1.16 trillion at the peak of the triangle, but it appears this won’t hold for much longer. The 1.618 Fibonacci level is set at $1.65 trillion.
Bitcoin Dominance rejection at 58.6%
As a crypto investor, it seems that the dominance of Bitcoin has been pushed back at around 58.6%. If this trend holds true by the end of this week, a possible drop to 54% and even further down to 51% might follow. This potential downtrend could signal an upcoming altcoin season, but it all hinges on the intensity of any potential Bitcoin surge that may occur.
$SOL one of the major beneficiaries
TradingView
It’s probable that Solana (SOL) could significantly profit from this surge in altcoins, given whispers suggesting potential support from the Trump administration for digital currencies like SOL and XRP.
$SOL appears to be on the verge of escaping its ongoing downtrend in the weekly timeframe, with its price recently touching the 0.618 Fibonacci level. At the chart’s base, the Stochastic RSI is showing signs that it may soon indicate significant bullish momentum in the coming days, potentially reinforced by this week’s closing price.
Read More
- PYTH PREDICTION. PYTH cryptocurrency
- Smino and Samara Cyn To Hit the Road on ‘Kountry Kousins’ Tour
- POL PREDICTION. POL cryptocurrency
- Solana L2 Sonic includes TikTok users in airdrop
- Ananya Panday claims ‘its tough being Bhidu’ after working with Jackie Shroff; find out why
- Blockaid new dashboard to track Web3 activity and threats
- XRP price slips as RLUSD market cap hits $53m, liquidations rise
- The Vampire Diaries Nina Dobrev Reunited With Co-Stars To Recreate Throwback Photo, And I’m Not The Only One Loving It
- EXCLUSIVE: Alia Bhatt in talks with Dinesh Vijan for a supernatural horror thriller; Tentatively titled Chamunda
- Cynthia Lummis calls for regulatory framework over Crypto
2025-01-17 15:08