Bitcoin’s dominance has dropped from about 48% to 42.3% while the total crypto market capitalization has continued its northbound trend. This indicates that the price action has moved from Bitcoin to altcoins.
BTC
Bitcoin broke above the bullish flag pattern but the buyers could not capitalize on this move and push the price above the overhead resistance zone at $64,854 to $67,000. This specifies the bears have not yet given up and are attempting to stall the up-move trend.
DOT
Polkadot rose and broke above the overhead resistance at $49.78 .The RSI broke above the downtrend line, cancelling the negative divergence. This suggests the continuation of the uptrend. The bears attempted to pull the price back below the breakout level but the long tail on the candlestick shows that bulls are buying on dips. The rising moving averages and the RSI near the overbought zone indicate the path of least resistance is to the upside.
LUNA
The LUNA token broke and closed above the overhead resistance at $49.54. The bears attempted to pull the price back below the breakout level but could not endure the lower levels. This suggests that the bulls are buying on dips. If bulls drive the price above $53.18, LUNA could rally to the resistance line of the wedge where the bears are expected to mount a stiff resistance
AVAX
After trading near the overhead resistance at $79.80 for the past three days, AVAX has broken above the barrier. This specifies the possible resumption of the uptrend. The rising moving averages and the RSI in the overbought territory indicate that bulls are in control. If the price sustains above $79.80, AVAX pair could rally to $93.04 and then try to challenge the psychological level at $100.
