Altcoin Market Surge Dependent on Ethereum and USDT Dominance Trends
The altcoin market is experiencing a correction despite previous rallies. Key indicators for potential recovery include:
Ethereum and USDT Market Signals
- Ethereum faces resistance at $4,000, crucial for altseason initiation.
- A breakout above this level may boost lower-cap altcoins.
- USDT Dominance has broken out of a bearish flag; a drop to 3.21% could signal capital rotation to altcoins.
Bitcoin Dominance Impact on Altcoins
- BTC Dominance (BTC.D) shows potential for rebound, having tested key support at 60.30%.
- If BTC.D rises to 64.60%-64.80%, altcoins could face a price decline of 10%-20%.
- Bitcoin's projected target is $160,000, with possible interim support around $113,000 or $108,000.
