Crypto analyst says Ethereum (ETH) and Altcoins will catch traders off guard with big moves

A closely watched technical analyst says Ethereum (ETH) and the broader altcoin markets are poised for an unexpected macro move to the upside.

A pseudonymous analyst known as TechDev Story to his 403,000 Twitter followers that several different metrics suggest that crypto markets have bottomed out and are setting the stage for the next spike.

TechDev shares a chart that appears to show altcoin market cap, plus Litecoin (LTC) in its Bitcoin (BTC) (LTC/BTC) pair forming bullish structures, while the US Dollar Index (DXY) and Bitcoin dominance show weakness at the same time time.

“Altcoin Cap, DXY, BTC Dominance and LTCBTC Offer Clues on Position of Broader Market Cycle.”

Source: TechDev

The popular analyst also claims that Ethereum is showing strength against Bitcoin, further suggesting an upcoming chapter of growth for altcoins. It shares the ETH/BTC chart with three-week candles that appear to show the Relative Strength Index (RSI) potentially breaking out of a downtrend


Altcoin Macro Bullish Chart.”

Source: TechDev/Twitter

TechDev says there is a potential decline in Tether’s (USDT) dominance. USDT’s dominance is often inversely correlated with crypto market moves as traders can sell their stablecoins for riskier crypto assets during bull runs and buy them back during bear markets.

According to the analyst, the dominance of stablecoins is “on a cliff”, suggesting that the crypto market capitalization could experience an influx of buying pressure.

“Things are coming.”

Source: TechDev/Twitter

he says analyst,

“In my opinion, there is a high probability that most will be caught off guard by the next altcoin move.”

Don’t Miss a Thing – Subscribe to Receive Crypto Email Alerts Directly in Your Inbox

Check the special price

Follow us on TwitterFacebook and Telegram

Surf the daily hodl mix

Check out the latest news


Disclaimer: The opinions expressed in The Daily Hoddle are not investment advice. Investors should do their due diligence before making any high-risk investment in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Image generated: Midjourney

Leave a Comment

Your email address will not be published. Required fields are marked *