Major altcoins have seen significant corrections following the November rally, but declining Bitcoin dominance suggests a potential altcoin recovery.
Current Market Situation
Over the last week, Bitcoin dominance has decreased by 0.70%, indicating early signs of an altcoin recovery. Particularly notable are the tokens Gala (GALA) and Axie Infinity (AXS), which have started the week in the green after substantial declines over the past 60 days.
Gala (GALA) Prospects
Gala (GALA) is currently trading at $0.023, near the upper resistance of its falling wedge. If the token breaks out and confirms support upon retesting, the next major target is the 200-day simple moving average (SMA), potentially rising to $0.034.
Axie Infinity (AXS) Prospects
Axie Infinity (AXS) is trading at $4.38, pressing against the upper boundary of its falling wedge. If AXS successfully breaks out and confirms a support retest, the next target is the 25-day SMA, potentially rising to $5.67.
With potential breakouts on the horizon for GALA and AXS, investors should monitor developments closely.
