- KALEO, a crypto trader and analyst, predicted that BTC’s market dominance may experience a correction.
- BTC’s market dominance dropping may give altcoins a chance to print gains in the next few weeks.
- Meanwhile, Ali predicted that ETH could climb to as high as $2,750 if it’s able to overcome the next supply zone.
The crypto trader and analyst KALEO predicted in a tweet yesterday that the market dominance of Bitcoin (BTC) may retest a higher timeframe support which was successfully challenged earlier this month. In his post, the trader added that this will not necessarily be an indication of an altcoin season, but will definitely provide a few weeks for altcoins to post some gains.
Meanwhile, another trader and analyst by the name of Ali revealed a major supply wall which Ethereum (ETH) will have to overcome in a tweet earlier today. According to the trader, 832,640 addresses bought more than 26 million ETH between $2,000 and $2,060. Should the altcoin leader overcome this resistance zone, he predicted that its price may climb to $2,750.
BTC price (Source: CoinMarketCap)
At press time, BTC was trading at $30,260.92, according to CoinMarketCap. Although it remained above the key $30K mark, BTC’s price had printed a 0.11% loss over the past 24 hours. Nevertheless, the crypto’s weekly performance was comfortably in the green at +12.94%.
BTC’s dominance in the market continued to climb – pushing the total up to 49.97%. This was a 0.07% increase compared to what it was at the start of yesterday’s trading session. BTC was also able to make its way onto CoinMarketCap’s trending list, and occupied the number 2 spot.
ETH price (Source: CoinMarketCap)
ETH also printed a 24-hour loss and was changing hands at $1,866.50 as a result. The 0.94% loss over the past day was not able to flip the leading altcoin’s weekly performance into the red, however. At press time, ETH was up more than 8% over the past 7 days.
The drop in ETH’s price meant that it was trading slightly closer to its daily low of $1,840.22, while its 24-hour high stood at $1,905.36. The 24-hour loss also caused it to drop 0.81% against BTC. As a result, 1 ETH was worth approximately 0.06166 BTC.
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