Is The Crypto Market Ready To Explode In June? Cryptocurrency analysis

In this new crypto point of the weekend, like every Sunday, we will do a inventory various graphs that allow better definition potential cash turnover that took place in the last seven days. Last week we discussed developments in the market itself. We noticed that first signs of a reversal trend on the ETH/BTC pair, indicating a real strong recovery of altcoins in the crypto market itself. Today, let’s see if this trend seems to be confirmed for the following weeks.

Capitalization develops in the dynamics of lateralization

The total capitalization of cryptocurrencies is developing in the range of 2400 to 2625 billion dollars
Cryptocurrency Total Market Cap Price on a Daily Scale (1D)

It happened last week small change on the total capitalization of the cryptocurrency market, continuing its development between 2,400 and 2,625 billions of dollars. At this point, until proven otherwise, the market will continue on its way lateralization period until he makes an exit, either up or down.

When there is an exit from the assortment, the market regains strength and is likely to develop in a well-defined trend sa return of volatility. Targets are generally the same as last week, lingering long-term biases bullish until we return below the lower bound. At this time, it appears that the buyer defend $2.4 trillion in support. This prevents re-incorporation of the previous technical series.

This will not be the case when it comes to altcoin capitalization not analyzed today because the price is developing exactly as dynamically as last week. At the moment, altcoins are in trouble and still moving continuation of the trend which we have known since April.

The crypto king’s dominance maintains a position of strength

Bitcoin Dominance Remains Above 55%Bitcoin Dominance Remains Above 55%
Cryptocurrency King Dominance Price Daily Scale (1D)

While the cryptocurrency king’s dominance was on razor wire last week, ready to confirm passage under 53.95% dominance who materialized a Ethereum’s strong recoveryit is clear that bitcoin is still in play and has a technical bounce greater than 55.14% dominance.

From now on, in order for the king of cryptocurrencies to be able to maintain this momentum with a strong recovery of its momentum and aspiration for liquidity within the market itself, it will undoubtedly have to register new peak, higher than in May around 56% dominance. If it succeeds, it still demonstrates its strong position against Ethereum, which is struggling on a monthly basis.

Ethereum is rejected on resistance

ETH/BTC pair price on 3D time unitETH/BTC pair price on 3D time unit
ETH/BTC pair price on 3D time unit

Last week the ether created a particularly strong reflectionwhich allows to switch from 0.045 BTC to over 0.055 BTC. However, given the technical situation, it is clear that the price has been rejected at the resistance threshold that we identified earlier. Although buyers are on board with Ethereum enabling this re-enter the monthly pivot zone (blue), this is not enough to successfully overcome the resistance threshold.

For now, it’s time for uncertainty. Although Ethereum was able to regain strength against the king of cryptocurrencies, the dominance of the latter shows that he did not give his last word, ready to siphon more liquidity from the market. All the more so we had the opportunity to point out on several occasions: crossing this threshold is undoubtedly one of the conditions for altcoins to develop in bull phase and get out of a long period of lateralization.

On the side of altcoin capitalization in DeFi is the momentum is the same as last week with the development of the price in the range of 100 billion dollars, and a limit that will not be lost to return to $130 billion. Since there have been no real changes, we will have the opportunity to analyze this course in our next article next week.

At the moment, the cryptocurrency market is va rather a quiet phase. Although bitcoin is currently below $70,000 and ethereum trying to get back to over $4,000we are still in a period of uncertainty which indicates a certain fragility of reflection which we have experienced in the market in recent weeks. The ETH/BTC pair is at a pivotal moment ahead restore resistance in order to provide a favorable context for altcoins and return the dominance of the cryptocurrency king to decline. At the moment, the month of June is marked under time delay signhoping that the upcoming momentum will allow the entire market to go up.

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