The post Top Altcoins Poised to Surge as Bitcoin Dominance Weakens appeared first on Coinpedia Fintech News
The cryptocurrency market has surged by 4.7% in the last 24 hours, with top altcoins showing impressive gains. Ethereum has jumped by 10.1%, XRP by 8.3%, Solana by 8.4%, Dogecoin by 11.3%, Cardano by 10%, Avalanche by 13.2%, Chainlink by 11.6%, and Stellar by 10.2%.
The latest bullish rally in the altcoin market has the crypto community buzzing, and renowned analyst Miles Deutscher has shared his secret formula for spotting the next altcoin pump.
Altcoin Market Analysis
At the start of April, the total market cap of the crypto market was $2.63 trillion, dropping to $2.31 trillion on April 7. However, since April 9, the market has surged by over 20.92%. Similarly, the altcoin market, which fell to $831.83 billion in the early days of April, has seen a recovery of 17.57%. Over the last three days, the market has risen by 7.67%, reaching $1.03 trillion.
Bitcoin Dominance and Spotting the Next Altcoin Pump
Bitcoin’s dominance started the month at 62.30%, reaching a peak of 64.59% yesterday. Currently, Bitcoin dominance sits at 64.31%, showing a slight decline. This indicates that altcoins are gradually gaining strength, as Bitcoin’s dominance starts to weaken.
Crypto analyst Miles Deutscher reveals the secret formula for spotting the next altcoin pump, highlighting four key factors investors should look out for:
- Oversold Coins: Look for coins that have dropped significantly or are being shorted.
- Strong Narratives: Coins tied to powerful stories, such as those in AI or gaming.
- Upcoming Catalysts: Coins gaining attention due to upcoming events or news.
- Technical Indicators: Coins that show a perfect alignment of technical signals, including key support and resistance levels.
Conclusion
With Bitcoin’s dominance weakening, the altcoin market is showing clear signs of recovery. According to experts like Miles Deutscher, focusing on oversold coins, strong narratives, upcoming events, and solid technical indicators could help investors spot the next big altcoin breakout. As the market continues to evolve, these insights provide traders with the tools to prepare for the next major rally.
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FAQs
Top altcoins include Ethereum, Solana, XRP, Cardano, Dogecoin, Avalanche, Polkadot, Chainlink, Polygon, and Litecoin.
Top narratives include AI, gaming, DePIN, modular blockchains, and tokenized real-world assets.
