RATE Group | Altcoins on Track to Plunge By 10%, Yet This Crypto Could Rally Higher
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Altcoins on Track to Plunge By 10%, Yet This Crypto Could Rally Higher

26 Jan Altcoins on Track to Plunge By 10%, Yet This Crypto Could Rally Higher

Posted at 04:22h in Cryptocurrency News by

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Over the past month, altcoins have finally started to break higher, reversing the Bitcoin-centric trend seen in the crypto market throughout all of 2019. In fact, the BTC dominance metric has dropped to 66% over the past week, with digital assets like Ethereum, XRP, and Litecoin starting to outpace the market leader.

Related Reading: XRP Analyst Suggests IPO Could Be Game-Changing for Ripple: Here’s How

According to a prominent cryptocurrency trader, the time for altcoins to outperform Bitcoin is likely up, looking to a number of bearish chart formations.

Altcoin Crisis: Top Crypto Assets Likely to Fall

Cryptocurrency trader Mr. Chief recently noted that he doesn’t “see anything bullish about these major altcoins,” specifically looking to the charts of three altcoins against Bitcoin. These altcoins are Ethereum, Litecoin, and Stellar Lumens.

For ETH, he noted that the cryptocurrency has broken below a key resistance after last week’s rally, and is looking to fall by just under…

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