Altcoin Season Index Drops to 46 as Bitcoin Maintains Market Dominance
- Market Dominance: The Altcoin Season Index has dropped to 46, indicating that over the past 90 days, 75% of the top 100 cryptocurrencies have failed to outperform Bitcoin, showcasing Bitcoin's continued dominance in the market.
- Investor Sentiment Shift: The decline from 50 to 46 reflects ongoing investor interest and capital inflows into Bitcoin, particularly following the approval of spot Bitcoin ETFs in multiple jurisdictions, which further solidifies Bitcoin's market position.
- Market Trend Analysis: The drop to 46 is part of a broader trend observed in the first quarter, suggesting that amid increasing regulatory uncertainty, investors are favoring Bitcoin, resulting in a lack of significant capital rotation into smaller cryptocurrencies.
- Strategy Adjustment: Understanding the Altcoin Season Index helps traders gauge market cycles and adjust portfolio strategies accordingly; the current low index value suggests that investors should not expect a broad altcoin rally in the near term and should proceed with caution.
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Technical Analysis for ALT
Technical Sentiment Analysis for Altlayer (ALT). As of , Altlayer (ALT) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ALT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ALT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Altlayer (ALT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00395 | 0.00465 | 0.00538 | 0.00608 | 0.00681 | 0.00751 | 0.00824 |
| Fibonacci | 0.00465 | 0.00519 | 0.00553 | 0.00608 | 0.00662 | 0.00696 | 0.00751 |
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