Altcoins: Will They Ever Break Out? 😜

by

Ah, the eternal question: will the altcoins ever break out of their slumber? It seems that just like their elder brother, Bitcoin, they too are hesitant to awaken from their sideways price action. Perhaps they are waiting for the opportune moment, or perhaps they are simply enjoying the view from their cozy little corner of the crypto market.

The unstoppable rise of Bitcoin Dominance 🦈

While the altcoins may be taking a leisurely stroll, Bitcoin Dominance continues its relentless march forward. Like a great white shark, it moves steadily and unstoppably, leaving the smaller fish in its wake. Will the altcoins ever be able to catch up? Only time will tell.

$ETH faces initial rejection 😞

Ethereum, the second-largest cryptocurrency by market cap, has been trying to break out of its descending trendline, but alas, it has been rejected. The Stochastic RSI is not being very supportive either, crossing down at the same time. However, there is a glimmer of hope at the $2,500 support level, so let us not lose faith just yet.

“Steady Eddy” $BNB rejected from trendline 😴

Binance Coin, the third-largest cryptocurrency, has been a model of consistency, with its ranging price action since 9 May. However, it seems that even “Steady Eddy” is not immune to the occasional rejection, as it has been pushed away from the descending trendline. The Stochastic RSI is hinting at a further squashing into the point of the triangle, so let us see if it can break out or if it will continue to nap.

Can $SOL hold support and attempt another breakout? 🤔

Solana, the fifth-largest cryptocurrency, has been on a downward trajectory, but it has a strong support level at $143. The Stochastic RSI is preparing to roll over and come back down, but if support can hold, perhaps another attempt at breakout will be in the cards. Only time will tell if this phoenix can rise from the ashes once more.

Read More

2025-06-20 18:49