Bitcoin's stability in recent months is leading to fluctuations in the altcoin market. As investors await significant changes, they begin to explore potential prospects for other cryptocurrencies.
Altcoin Season
September is expected to bring a predicted decline in interest rates, as well as a resolution of uncertainties surrounding tariffs. It is anticipated that several tariff agreements will be negotiated between July 4 and 9. Rover, sharing the Bitcoin dominance chart, noted that we are entering a period of significant altcoin growth. The current stability of dominance raises questions about upcoming market changes.
Attractive Cryptocurrencies
RSI (Relative Strength Index) data can serve as a useful tool for quickly assessing demand for altcoins. During this situation, attractive altcoins that draw liquidity are demonstrating rising RSI levels. DaanCrypto shared an RSI map showing that with last week's recovery, the average weekly RSI level has significantly increased. Some altcoins, such as TRUMP, ACK, and RED, are experiencing significant selling pressure.
Current Trends and Predictions
Despite the instability, Bitcoin maintains a position in the 60-70 range for RSI, indicating a healthy state. Altcoins, still in their infancy, have been unable to consistently outperform BTC over several weeks. However, the groups of cryptocurrencies SIREN, QNT, and XMR are attracting significant investor attention amid the overall market situation.
The situation in the altcoin market remains uncertain, but some coins show potential for growth. Investors continue to closely monitor changes in Bitcoin's dominance and RSI dynamics to inform their investment decisions.
