News View Non-AMP

Critical Bitcoin Indicator Suggests ‘Shift in Sentiment’; Is It Finally Time for Altcoins to Shine?

Published by
Anjali Belgaumkar

Analyst Eric Krown Crypto recently said that he is expecting possible upward trends in some altcoins due to technical indicators and market sentiment changes. The analyst also said to keep an eye on weaker altcoins that might struggle to keep going up. He said that today’s topic is all about altcoins—what they’re currently up to and when we might expect some action from them. There are a few signals starting to appear, which are likely to trigger within the next two weeks as this month wraps up. The analyst looked at total 3, total 2, and Bitcoin dominance. 

Bitcoin Dominance Quarterly RSI Setup: A critical indicator, the quarterly RSI for Bitcoin dominance is currently showing signs of hidden bearish divergence. This divergence occurs when the RSI indicates higher highs while the corresponding price action shows lower highs, particularly evident around the 50% retracement level. 

This setup suggests a potential stall in Bitcoin’s dominance over the broader crypto market, especially important if monthly closures by month-end fall around or below the 55.35% mark. Despite this, it’s essential to note that not all altcoins may benefit equally from any downturn in Bitcoin dominance. Stronger projects are expected to maintain resilience and potentially outpace weaker counterparts.

Monthly Momentum Shifts and Market Sentiment

On the monthly time frame, Bitcoin dominance Stochastic Momentum is poised to turn downwards if closures drop below approximately 55.18%. This shift could indicate a broader sentiment change among investors, possibly triggering adjustments in portfolio allocations towards more robust altcoins. 

Total 3: Consolidation and Potential Upside

Excluding Bitcoin and Ethereum, Total 3 reflects the market cap of all other cryptocurrencies. Presently, Total 3 shows a consolidative pattern, suggesting a period of price stabilization. The crucial support level to watch is around 500 billion, maintaining above which could pave the way for renewed upside momentum. Should Total3 manage to reclaim recent highs seen in late May, around 784 billion, it could signify a bullish resurgence and potentially set new cycle highs.

Looking at Total 3 & Total 2 Stochastic Momentum, he pointed out that while monthly momentum for Total 3 was turning down, similar patterns in the past have led to strong upward movements. Total 2 showed a similar pattern, suggesting strong momentum might be ahead.

Also Read: Memecoins Bleed as Markets Turn Red: Will Pepe, FLOKI, and BONK Price Overcome 12% Losses?

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

Recent Posts

Crypto Market Live Today—BTC Slips Below $82,000 While ETH, SOL, & XRP Juggle Around Crucial Support

The weekly trade has begun on a bearish note, with the prices of most tokens…

March 31, 2025

Crypto News: South Korean Trio Jailed for Crypto Ponzi Scheme Promising 30% Monthly Returns

A South Korean court has sentenced three members of a crypto scam ring to prison…

March 31, 2025

Ripple News: Can the SEC’s April 3 Meeting Save XRP from Dropping Below $2?

XRP has shown some interesting price movements over the past 24 hours, with increased trading…

March 31, 2025

Cardano (ADA) Price Prediction for March 31

Amid the bearish market sentiment, Cardano's (ADA) price prediction has become a key topic among…

March 31, 2025

Bitcoin Price Prediction 2025: Here’s Why You Need Not Panic as BTC Price May Rebound Soon!

Bitcoin is about to close the monthly trade on a bearish note, which may hinder…

March 30, 2025

Shiba Inu Price Prediction: SHIB Flashes Green As Rexas Finance (RXS) Positions Itself For a Shocking 21450% Move

Shiba Inu(SHIB) has been making headlines, especially with its recent development. It has started flashing…

March 30, 2025