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Cryptocurrency News Articles
Bitcoin Dominance Reaches Key Resistance, Pressuring Altcoin Performance
May 12, 2025 at 02:20 pm
Bitcoin’s price has been rising and recently made an attempt to break above $105,000. However, it is now trading just below $104,000
Bitcoin’s price has been incrementally rising and recently made an attempt to breach the $105,000 mark. However, in recent trades, BTC is now valued at $103,900, still holding firm above key support levels.
Bitcoin Dominance Reaches Key Resistance, Pressures Altcoin Performance
The cryptocurrency is also showing an increase in dominance, reaching a major resistance zone between 60.30% and 65.20%. This range has acted as a barrier in the past. Many analysts had hoped that Bitcoin would slow down to give altcoins a chance to rally, but that hasn’t happened yet.
With about 20 days remaining in the month, there’s a chance that Bitcoin’s dominance could rise even further. This is important for altcoins because when Bitcoin’s dominance increases, altcoins typically struggle to keep up. A possible warning sign is emerging too — momentum indicators like the Stochastic RSI are showing a divergence. However, according to Crypto Capital Venture, altcoins are showing some signs of strength.
Despite weeks of market fear and sell-offs, the monthly chart actually closed in the green for altcoins, a sign of resilience. Similar patterns occurred during difficult times in 2015, 2018, and during the COVID-19 market crash in 2020 — all of which were followed by strong rebounds. While it’s too early to confirm a full bull run, improving global liquidity and possible changes in U.S. monetary policy are positive signals for the market.
The second-largest cryptocurrency is testing the lower boundary of a long-term triangle pattern while sitting close to its 200-day moving average around $2,700. If Ethereum manages to break above this level and move back into its previous range, it could open the door for a major rally, with some long-term predictions aiming for $10,000 in the next bull run.
Ethereum’s price action is often seen as a leading indicator for the altcoin market. The analyst said that red days and short pullbacks are normal, even in strong uptrends.
Cardano Price Analysis:
Another altcoin flashing bullish signals is Cardano. ADA has re-entered a technical zone called the “bull market doors,” a level that shows growing upward momentum. Even during recent market fear, Cardano has managed to form a higher low, a positive sign of strength.
Key price levels to watch for ADA include $0.71 and $0.80, along with its 20-week moving average. If it holds these levels, Cardano could continue its climb toward $1.25 or even higher.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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