Altcoins in Trouble – As we know, the year 2022 will remain a bad year in terms of performance for altcoins. If Bitcoin continues to fall, Ethereum may well slip below $1,000 and bring altcoins. In fact, altcoins are close to a new bearish wave. Buyers must respond quickly. Despite this, do the whales buy into the fear of small carriers? Let’s analyze the situation on Ethereum and altcoins.
>> You don’t trust the platforms to hold your cryptos? Ledger has the solution (commercial link) <
Decline in volatility for Ethereum on a daily basis
In the last few weeks, cryptocurrencies have experienced a period of low volatility. In fact, Ethereum (ETH), for example, has created one is between $1,310 and $1,230 :
Recent fences above $1,310 allow us to believe that Ethereum could continue to jump in the coming days. However, the rise is fearful at the moment and the sellers are pushing the buyers back at par resistance. A fence bigger than $1,350 could make it possible to join the next one resistance at $1,580. Note, a bearish trend line is on the way, and it may continue to do so dismiss the lesson.
In the event of a victory for the sellers, the price would fall below the last low at $1,074 and would probably join the next one brackets for $1,090. This support must be maintained at all costs to try to change the dynamic in the short term.
Momentum on the other hand is encouraging, the RSI is trending above bullish trend line. As long as that is the case, we can hope that the buyers maintain control. Whatever happens, the buyers will have to exceed $1,680 thereafter $2,030 to find one uptrend in the medium term. In light of the current context, this may take time.
Ethereum is showing signs of feverishness towards Bitcoin
When latest editionwe mentioned the possibility that the pair ETH / BTC is made dismiss on a level with bearish trend line. It is done :
Last June, Ethereum succeeded jump below the bottom of tidy. A nice rebound against Bitcoin that ended when The merger arrived. Therefore, momentum may turn bullish again in the event of a final breakout of resistance corresponding to the top of the row. If it breaks, it would be good news for altcoins. But for the past few months, the pair have struggled to mark a high above the previous, and sellers could benefit.
If the sellers manage to break intermediate support of the range, the price can quickly end up on par with them bottom of the row and they could even take the opportunity to break the reach from below. Having managed to put yourself between the top of the row and the intermediate support in the row, it would be really negative to step back and find yourself at the bottom of the row.
That bearish trend line rejected the RSI once again. It would require a quick reaction from traders to prevent the momentum from continuing to decline. A break off 47 thereafter 43 of RSI would be new bearish signals for the class.
Do whales buy fear?
Whales are devices with more than 1,000 BTC in the wallet. For Ethereum, it can be interesting to study whales with more than 10,000 ETH. The period remains dark and it will probably take time to find Ethereum as attractive as in 2021. However, these whales seem to hungry :
While the whales had distributed of Ethereum from July 2021 to March 2022, it seems that the situation is about to change. These devices actually seem to have changed their behavior for months. Recently, the whales decided tobuy fear novice investors. It is possible that they are interested in Ethereum as it has still not reached a low since June. In fact, unlike Bitcoin, the coin Ether resists selling pressure currently.
Could the whales buy to resell at the top of the range at $1,900 ?
Bitcoin attracts capital: altcoins in danger?
Bitcoin appears again attract capitalthis is the information Bitcoin dominance gives us:
It is true that the more a support is affected, the more fragile it becomes, but the support is holding for now. The bottom of the row at 40% of dominance allowed a jump, and it may not be over. The level to see is at 42%, if it is exceeded, the dynamics will be bullish within this interval. If this bullish scenario takes place, a return to the top of the range cannot be ruled out. With the current context, altcoins still suffer.
Furthermore, momentum shows a bullish signal. In fact, the RSI is breaking bearish trend line and find one bullish momentum with troughs and rising peaks. All indications are that capital will continue to flow towards Bitcoin. The level of 42% can he last
Altcoins Close To Another Fall?
Altcoins seem lose groundwe also notice it on the graph of the capitalization of altcoins:
The capitalization of altcoins is on the precipice. If the buyers do not defend aid to 460 billion dollarsthe price may fall with 30% or more. that institutional bias (EMA 9/EMA 18) is a barrier, it must be crossed and broken resistance of 520 billion dollars to find colors on the altcoins page.
The momentum is encouraging, it is sustained support at 39 from RSI. This support is a key area for RSI, we will have to find a new one jump in the coming days.
No matter what happens, altcoins will remain crazy as long as the capitalization develops below bearish trend line and that the dynamics do not change on a weekly basis. For this it will be necessary to free oneself from resistance of 670 billion dollars.
Since The Merge, Ethereum has lost ground to the king of cryptocurrencies. In this complicated period, it seems that capital is once again turning to the safe haven of cryptos. In the event of an excess of 42% on bitcoin dominance, altcoins liked. However, units with more than 10,000 ETH placed in the buy and in a non-negligible way. Are the whales betting on the strength of Ethereum? It is true that the price continues to develop above the lows of last June. Can Altcoins Recover? in extremisand thus avoid a new wave of decline?
In crypto, do not skimp on caution! So to keep your crypto assets safe, the best solution is still a personal hardware wallet. At Ledger, there is something for all profiles and all cryptos. Don’t wait to secure your capital (commercial link)!