Altcoins: The Calm Before the Storm? Market Analysis and Predictions

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Is Your Crypto Portfolio About to Explode? 🚀💰

Ah, dear reader, on this fine Wednesday, the crypto assets seem to be in a state of delightful slumber, as if they are waiting for the grand performance of a lifetime. One can only wonder if a price explosion is lurking just around the corner, perhaps as soon as this week or the next. How thrilling! 🎭

Total3: The Chart of Dreams and Desires

Behold, the illustrious Total3, a chart that encapsulates the combined market cap of all cryptocurrencies, save for the illustrious $BTC and $ETH. It serves as a splendid barometer for the performance of our beloved altcoins. As the chart reveals, Total3 has broken free from its triangular confines and now flirts with the first resistance at a tantalizing $1.05 trillion. This horizontal resistance, a relic from the euphoric heights of the 2021 bull market, beckons like a siren. The second resistance, a more formidable foe at $1.13 trillion, stands tall, having been forged in the fires of past price action. Should we breach this second bastion and confirm with a weekly candle, we may very well be on the precipice of a new leg higher. How positively exhilarating! 🎉

Bitcoin Dominance: The Stubborn Sovereign

Yet, amidst this drama, the Bitcoin Dominance chart (BTC.D) remains as obstinate as a cat refusing to leave a sunbeam. Despite two candle bodies attempting to escape the channel trendline, dominance has clawed its way back, seeking confirmation above a small descending trendline. Altcoin bulls, take heed! Your watchful eyes are required for this unfolding spectacle. 🐱‍👤

USDT Dominance: A Curious Inversion

And what of the USDT Dominance (USDT.D)? It presents us with an inverse cup and handle pattern, a curious sight indeed! Should this pattern break to the downside, it may herald a newfound strength in the crypto market. But, dear reader, let us not count our chickens before they hatch; confirmation is paramount! 🥚

$SOL: The Daring Front-Runner

Lastly, we must pay homage to the audacious $SOL, which appears to be leading the charge into this potential wave of prosperity. Last week, the $SOL bulls propelled this magnificent layer 1 to an all-time high of $295. The chart, with its long wicks of volatility, tells a tale of tumultuous times. However, this week’s candle body has opened above the significant level of $252. Should it confirm above this threshold, we may have found our new bull market support. The next target, according to the mystical Fibonacci, is a staggering $415. How delightfully ambitious! 🌟

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2025-01-22 17:20