Bitcoin Dominance is ‘Dangling’ and Cardano Looks Poised to Lead the Altseason

Bitcoin Dominance is ‘Dangling’ and Cardano Looks Poised to Lead the Altseason
фото показано с : zycrypto.com

2020-6-18 14:14

A majority of cryptocurrencies are moving sideways, a trend being set by Bitcoin. The top coin has in the last few days been undecided on the next move which has inadvertently led to it holding up the wider market. One coin is however defying this trend. Cardano has been forging higher with its $0.1 target ever getting closer.

With the latest move, the bulls have come within earshot of key resistance. This has been its local top and holds the potential to reach $0.1 in the short term.

A 6% gain in the last 24 hours has seen Cardano reach just over $0.083. This move has not only seen it solidify its place as the tenth-ranked coin but has brought it close to its higher resistance of $0.085.

If the bulls can pull out a break above $0.085, this will clear a path for a move to $0.1. This is a psychological position and will allow for FOMO to kick in. If it works, Cardano will be well above $0.1 by the launch of its Shelley Mainnet.

Cardano’s Impressive Recovery

At the start of the month, the altcoin broke above $0.085 and climbed to reach as high as $0.090 before meeting major resistance. A pullback saw the asset settle on the critical level as support but Bitcoin’s volatility last week saw it lose that too and set its short term low at $0.070.

Since then, Cardano has staged a spectacular recovery but one that is about to be hit with a big test that defines its next couple of weeks.

On its own merit, Cardano is stronger than ever. But with Bitcoin continuing to carry a lion’s share in dominance, no altcoin can truly set a major long term bullish trend. But according to one analyst, Bitcoin could soon lose in this front.

In a tweet, analyst  Scott Melker noted that Bitcoin’s dominance is sitting on the edge of the precipice. If this is tipped, dominance will crumble which he further suggests will trigger the altseason.

$BTC Dominance

For those of you that believe in charting this thing, it's dangling on the edge of the precipice. If it breaks down, you know what that could mean?

Something that rhymes with fault reason. pic.twitter.com/eOwwkBTNKS

— The Wolf Of All Streets (@scottmelker) June 17, 2020

If this comes true, Cardano is set to be one of the main coins that will lead the glorious season.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 70486.89 (+0.10%)
Объем 24H $32.813b
Изменеия 24h: 2.00 %, 7d: 3.14 %
Cегодня L: $70430.58 - H: $70509.62
Капитализация $1389.136b Rank 1
Цена в час новости $ 9393.11 (650.41%)

bitcoin undecided days move holding wider led

Источник: zycrypto.com

bitcoin undecided → Результатов: 20


Фото:

XRP/USD Technical Analysis: Cryptocurrency content with sideways movement as market remains undecided

The roller-coaster cryptocurrency market does not look to be stopping anytime soon, with some coins seeing rises while others are still in the bear’s grasp. Popular cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and XRP have all been displaying alternative bullish and bearish signals, with many users waiting with bated breath for price surges.

2019-4-3 18:30


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Can Cardano rebound from its April crash? Price chart suggests...

Market sentiment around ADA continued to remain bearish.  Apart from a bull pattern, a few of the metrics hinted at a price uptick  Cardano [ADA] disappointed investors over the last few mThe post Can Cardano rebound from its April crash? Price chart suggests... appeared first on AMBCrypto.

Cardano's price loss - Is it time to scoop more ADA?

Most ADA transactions ended in a loss, prompting speculation that the price might drop again Price-DAA was below 0.50, indicating that it could be time to buy the token Losing 5.42% of its vThe post Cardano's price loss - Is it time to scoop more ADA? appeared first on AMBCrypto.

Cardano lags behind in market rally - Are ADA bulls asleep?

ADA is underperforming compared to BTC and ETH in the current market rally. Trading volumes and liquidity are lagging behind other top cryptocurrencies. As the crypto markets continues reeliThe post Cardano lags behind in market rally - Are ADA bulls asleep? appeared first on AMBCrypto.

Cardano’s "genesis keys": Centralization or necessary control?

Justin Bons raised concerns about Cardano's "genesis keys," challenging decentralization claims. Despite the challenges, Cardano highlights strong development activity. As the broader marketThe post Cardano’s "genesis keys": Centralization or necessary control? appeared first on AMBCrypto.