The post Bitcoin Dominance Nears Key Resistance: Will Altcoins Face Struggles or Rally? appeared on BitcoinEthereumNews.com.

Bitcoin dominance is currently challenging a significant resistance level, which could dictate the market’s direction for both BTC and altcoins. As the ongoing tug-of-war between BTC and altcoins intensifies, analysts are keenly observing market patterns to anticipate future price movements. According to insights from COINOTAG, “The outcome of this critical resistance test will not only affect Bitcoin but also shape the future of altcoins.” Bitcoin dominance is testing resistance at 62.10%, with critical implications for altcoins’ performance in a volatile market. Bitcoin Dominance Trend: Key Resistance and Support Levels At present, Bitcoin’s dominance is hovering near the upper boundary of an ascending channel, with critical resistance identified at 62.10%. This pattern suggests that Bitcoin has retained its market strength; however, analysts warn that a decisive breakout above this level could propel BTC gains, often at the expense of altcoins. The 50-day moving average, situated at 60.52%, acts as a vital support level. If this threshold is breached, it may indicate diminishing BTC dominance, potentially triggering a surge in altcoin investments. Moreover, as it stands, Bitcoin’s dominance is closely tied to crucial support levels. If it remains within the channel and continues to trend upward, altcoins may find it challenging to spark recovery or momentum. The current state of market capitalization, with Bitcoin valued at roughly $1.7 trillion and Ethereum at about $262.2 billion, underscores the critical dynamics at play. Bitcoin Price Action: A Decisive Moment As of now, Bitcoin is trading at approximately $85,913, reflecting a minor decline of 0.34% within the past 12 hours. With the 50-day moving average registered at $91,914, this serves as a formidable resistance point for the cryptocurrency. Additionally, BTC is situated near the Ichimoku cloud resistance, a pivotal technical indicator, reinforcing the notion that Bitcoin is poised at a crucial juncture. The Dominance Monitor…

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Filed under: News - @ March 9, 2025 3:15 pm