Bitcoin Holds Above $103K, But Altcoins Start Fighting Back
By: bitcoin ethereum news|2025/05/12 15:00:13
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Bitcoin holds above support, but dominance nears a strong resistance zone. Altcoins closed a green monthly candle, showing early signs of strength. Ethereum testing key levels near 200-day average for breakout. Bitcoin’s price has been rising and recently made an attempt to break above $105,000. However, it is now trading just below $104,000, still holding strong above key support levels. Bitcoin Dominance Reaches Key Resistance, Pressures Altcoin Performance Meanwhile, Bitcoin dominance has also increased and is now hitting a major resistance zone between 60.30% and 65.20%. This range has acted as a barrier in the past. Many analysts had hoped Bitcoin would slow down to give altcoins a chance to rally, but that hasn’t happened yet. With about 20 days left in the month, there’s a chance Bitcoin’s dominance could rise even higher. This is important for altcoins because when Bitcoin dominance increases, altcoins usually struggle to keep up. A possible warning sign is emerging too — momentum indicators like the Stochastic RSI are showing a divergence. Altcoins Show Underlying Strength Despite Market Fear However, according to Crypto Capital Venture, altcoins are showing some signs of strength. Despite weeks of market fear and sell-offs, the monthly chart actually closed in the green for altcoins, a sign of resilience. Similar patterns happened during tough times in 2015, 2018, and during the COVID-19 market crash in 2020 — all of which were followed by strong rebounds. While it’s too early to confirm a full bull run, improving global liquidity and possible changes in U.S. monetary policy are positive signals for the market. Ethereum Price Tests Crucial Technical Support The second-largest cryptocurrency is testing the lower boundary of a long-term triangle pattern while sitting close to its 200-day moving average around $2,700. If Ethereum manages to break above this level and move back into its previous range, it could open the door for a major rally, with some long-term predictions aiming for $10,000 in the next bull run. Ethereum’s price action is often seen as a leading indicator for the altcoin market. The analyst said that red days and short pullbacks are normal, even in strong uptrends. Related: Bitcoin, XRP, and Altcoins Poised to Rally Amid US-China Tariff Breakthrough and McGregor’s BTC Stance Cardano Price Analysis: Cardano is another altcoin flashing bullish signals. ADA has re-entered a technical zone called the “bull market doors,” a level that shows growing upward momentum. Even during recent market fear, Cardano managed to form a higher low, a positive sign of strength. Related: Ethereum’s 30.24% Surge in May: Why ETH Holders Are Set for Big Rewards Key price levels to watch for ADA include $0.71 and $0.80, along with its 20-week moving average. If it holds these levels, Cardano could continue its climb toward $1.25 or even higher. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company. Source: https://coinedition.com/bitcoin-holds-above-103k-but-altcoins-start-fighting-back/
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