These 3 Altcoins Are Next Fastest Runners!

The altcoin market has recently witnessed the bull runs of Dogecoin and Arbitrum. Senior traders predict that this momentum will continue, with 3 altcoin projects melting Bitcoin.

Andrew Kang evaluated altcoin projects that will shrink Bitcoin’s share

Andrew Kang, the popular crypto analyst and founder of venture capital firm Mechanism Cap, said that as the dominance of Bitcoin (BTC) begins to lose momentum, the price of any coin other than BTC could rally.

As Kang’s BTC.D chart shows, the indicator has reached a strong resistance level at current levels around 47.8%. Only once in the last six times that Bitcoin’s dominance has reached these levels has managed to rise even higher in the summer of 2018.

However, the crypto investor believes that if altcoin season starts, it will only be among the best.

Senior analyst nominates 3 altcoins

In his latest analysis, Kang listed three cryptocurrencies in this regard: Ethereum (ETH), Dogecoin (DOGE), and Arbitrum (ARB). While the first one is understandable given its position in the crypto market, the investor’s choice of the last two tokens is quite curious.

However, leaving aside all the arguments for one or the other, it can certainly be emphasized that these are probably the two most discussed altcoins at the moment. Perhaps Kang’s argument was that there would be a corresponding flow of liquidity and strong momentum in price movements due to investors’ heavy focus on DOGE and ARB.

Analyst Miles Deutscher points to an important indicator in BTC and ETH competition

Crypto analyst Miles Deutscher points out that Ethereum is currently attempting a breakout and a successful support/resistance (S/R) turn on the Bitcoin daily chart. Ethereum’s price turned into oversold against Bitcoin after hitting an eight-month low of $0.062 on March 21. This was followed by a relatively short period of interval trading before the uptrend started on April 3.

According to Deutscher, the newly discovered strength Ethereum sees on the Bitcoin chart may reflect the gains of capital rotation ahead of the Shanghai update. Staked ETH withdrawals will begin with the Shanghai upgrade, also known as “Shapella,” which completes Ethereum’s transition to a proof-of-stake (PoS) network. cryptocoin.com As we reported, the long-awaited Shanghai hard fork has a target date of April 12.

Steady uptrend could signal rally for altcoin market

Deutscher states that Ethereum’s continued strength against Bitcoin will bode well for altcoins’ performance. Often times, the altcoin market tends to capitalize on Ethereum’s strength against Bitcoin, and this is often an indicator of altcoins’ performance.

On the upside, Ethereum is facing a hurdle that coincides with the moving averages on the Bitcoin chart. A successful return to support could determine the next move in the coming days.

Meanwhile, on-chain analyst Ali Martinez, who analyzed the ETH/USD chart, says that Ethereum is breaking out. Their analysis reveals that the next critical resistance area is between $2,100 and $2,150; More than 200,000 addresses here had previously purchased more than 18 million ETH.

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