OTHERS.D: Inverted Head and Shoulders
The market capitalization of other cryptocurrencies in%
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OTHERS.D rose from a solid 1% in 2016 to 12% in 2022, while ETH.D only rose from 8% to 19% and BTC.D declined from 96% to 41%. Therefore, we can clearly see the imminent growth potential of OTHERS.D vs ETH.D & BTC.D.
OTHERS.D 1W-TIMEFRAME ANALYSIS✨
Hello ladies and gentlemen
This is my new idea for Altcoin Dominance index OTHERS.D
#ALTSEASON
I expect the price to move higher.
I hope my idea is clear
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Stay Safe💯
Good luck💰
Others.D had 11.30% - 12.00% as a resistance before. Then, it went through it for sometimes and now we expect this to be our final bottom and ready for skyrocketing soon.
OTHERS.D made a big ISHS(Inverted Head&Shoulders), and broke the neckline. Therefore altseason should go on :)
However, I think it will touch to the resistance trendline , then retest the neckline , then go to the ISHS target (20.50)
It is not an investment advice, I share my opinions.
Please trade at your own risk
OTHERS.D - look for support on the PURPLE support line. That should be a transition to ALTS for some dominance change off of BTC.
Notice the RSI, MACD and Squeeze on the 1D are showing great levels to enter ALTS.
Good Luck
#OTHERS.D
Looks like Others Dominance is near resistance of parallel channel,also a fractal from 2017-2019 shows it is time of dropping altcoins. so I prefer minimize my portfolio and set tight stop loss.
OTHERS.D represent the percentage of market cap of all altcoins excluding the top 10 coins. We can see that the chart trades in an ascending triangle pattern and found support above 300EMA weekly (opposite to Bitcoin dominance chart). We can expect the altcoins doing a huge movement next.
TA factors:
1- MACD and Stochastic showing bullish movement to the up side.
As you can see on the chart the current level at between 12.2% and 12.6% have acted as a strong ceiling for CRYPTOCAP:OTHERS.D on June 2017 , January 2018 , April 2018 , October 2020 , February 2023 and November 2023 . So obviously that ceiling is a valid candidate for a future strong support level .
On the other hand, OTHERS.D have broken out of...
