Cryptocurrency analysis firm Alphractal has published a report assessing the current state of the altcoin market and warning of potential volatility in the coming days.
Historical Support for Altcoins
In its statement, Alphractal noted that altcoin dominance has reached historical support levels, signaling possible market changes. High volatility could be on the way in the coming days.
Analysis of Dominance Metrics
Alphractal focused on two key metrics in its analysis that have historically heralded serious rallies in the altcoin market. The first metric is altcoin dominance (excluding stablecoins), which found strong support at the 25% level. The second metric is altcoin dominance (excluding ETH and stablecoins), which has a critical support area at around 18%.
Warning about Volatility
The company noted that these levels do not guarantee an 'altcoin season', but such technical signals have appeared before major market movements in the past.
Alphractal's analysis highlights the importance of historical support levels for altcoins and warns of upcoming market volatility, prompting investors to stay informed of price dynamics.
