Meanwhile, market participants suggest that Ethereum will be the focus of investors in the upcoming cycle. This break in BTC.D indicates that capital is shifting from Bitcoin to altcoins. However, Bitcoin’s support zone around 60-61% may prevent altcoins from immediately rallying. 

New Capital Rotation Begins for Ethereum and Altcoins 

The decline in Bitcoin Dominance reveals that investors are seeking higher return potential. Especially, the ETH/BTC pair signals Ethereum’s strengthening against Bitcoin. Experienced traders compare current market dynamics to the 2021 altcoin season. 

Short-term market volatility may occur before the expected altcoin rally. However, once the capital rotation completes, investors are expected to initiate a significant growth movement in Ethereum and other altcoins. Investors should patiently follow this market transformation. Additionally, breaking the BTC.D support level between 60-61% will play a critical role in altcoins gaining momentum. 

Analyst Crypto Candy stated that if Bitcoin Dominance does not convincingly drop below the 60-61% support zone, altcoins may struggle to grow. The expert emphasized that while these levels hold, the altcoin market will lack sufficient momentum. During this period, altcoins may move slowly and experience minor pullbacks. 

In conclusion, the market structure is preparing the ground for an altcoin season. However, developments will progress gradually, and investors should position themselves according to short-term movements.

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The post Bitcoin Dominance Drops 6.3%: Altcoin Season on the Horizon? appeared first on Coin Engineer.

Bitcoin (BTC/USD) Technical Analysis

In the past 24 hours, Bitcoin has gained 8.61%, currently trading at $89,789. BTC has regained the $86,641 support level and is now inside a bearish FVG (Fair Value Gap) region. If this region is surpassed, the $100,000 target could be reached. However, if BTC loses the $86,641 support, the next support level would likely be the bullish FVG region. The critical point for BTC is the preservation of this support. If it’s lost, a larger decline could occur.

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Ethereum (ETH/USDT) Technical Analysis

Ethereum has gained 6.42% in the last 24 hours, currently trading at $2,207. After bouncing off the $2,037 support, ETH regained the $2,108 support level and is currently above it. The nearest resistance for Ethereum is the bearish FVG region. A breakthrough in this region could see ETH targeting the $2,811 level. If this support is lost, we may witness a pullback to the $2,000 range.

Tether (USDT) Dominance and Crypto Market Overview

Tether Dominance has pulled back to the bullish FVG region after a rejection from the order block. It rose again to the order block resistance but faced another rejection in a short time. If Tether Dominance breaks the order block resistance, the 5.90% level could be the next target. Currently, the dominance rate stands at 4.94%.

Bitcoin and Ethereum continue to be the key players in the market. The price movements of Bitcoin and Ethereum are at critical levels. If these resistance levels are broken, BTC could target $100,000, and ETH could aim for $2,811. However, the loss of support levels could lead to further retracements. Crypto investors should closely monitor these critical levels for BTC and ETH.

In conclusion, the price movements for Bitcoin and Ethereum are at pivotal levels. For an upward trend, resistance levels must be surpassed, while for a downward move, support levels need to hold. Investors should stay vigilant as the market unfolds.

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The post Bitcoin and Ethereum on the Rise? Daily Market Analysis appeared first on Coin Engineer.

Bitcoin Intraday Key Levels

The BTC/USDT pair has gained 0.55% in the last 24 hours, currently trading at $95,947. Bitcoin (BTC) has broken the resistance level mentioned in our November 27th analysis and is continuing its upward movement. If it keeps rising, it could face resistance in the FVG region, ranging from $96,500 to $98,000. A 4-hour closing above this level will push the price toward the ATH resistance zone. Key support levels are at $94,700 and $91,213.

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Ethereum (ETH): The ETH/USDT pair has lost 1.86% in the past 24 hours and is currently trading at $3,567. Resistance levels for ETH are at $3,649 and $3,886. Support levels are at $3,527 and $3,440.

Algorand (ALGO): The ALGO/USDT pair has surged by 20.37% in the last 24 hours, currently at $0.34. Resistance levels are at $0.36 and $0.39. Support levels are at $0.328, with deeper corrections possible at $0.31.

Artificial Superintelligence Alliance (FET): The FET/USDT pair has gained 10.71% in the last 24 hours, trading at $1.63. Resistance levels are at $1.71 and $1.74. Support levels are at $1.56, with further downside potential at $1.53.

Render (RENDER): The RENDER/USDT pair has increased by 7.47% in the past 24 hours, currently priced at $8.74. Resistance levels are at $8.96 and $9.33. Support levels are at $8.28, with a deeper drop possible at $7.46.

Trending Coins

In the last 24 hours, the most trending coins in the crypto market include Hyperliquid (HYPE), Virtuals Protocol (VIRTUAL), and Grass (GRASS). The biggest gainers include ai16z (AI16Z), Virtuals Protocol (VIRTUAL), and Act I The AI Prophecy (ACT). The biggest losers are Just a chill guy (CHILLGUY), Fwog (FWOG), and Echelon Prime (PRIME).

Bitcoin Liquidation Map

Looking at Bitcoin’s 12-hour liquidation map, the key liquidation level on the higher side is $97,844, with $31 million in liquidations. On the lower side, $94,827 is the main liquidation level, with $37 million in liquidations.

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The post Current Status of Bitcoin and Cryptocurrencies: November 29 appeared first on Coin Engineer.