BTC Dominance Analysis
We are currently observing a key resistance zone (labeled as "A") between 59% and 60% dominance. The price action shows a potential rejection from this area, suggesting that BTC dominance might struggle to break above this level in the short term.
If the rejection occurs as expected, we could see a downward move towards the highlighted support zone (labeled as "B") around 54.5% - 55%. This zone represents a significant area of buyer interest and could lead to a reversal or stabilization.
Key Levels:
Resistance (Zone A): 59% - 60%
Support (Zone B): 54.5% - 55%
Projection:
If rejection from Zone A occurs, a bearish movement towards Zone B is likely.
A potential bounce from Zone B could lead to a recovery in BTC dominance.
If the rejection occurs as expected, we could see a downward move towards the highlighted support zone (labeled as "B") around 54.5% - 55%. This zone represents a significant area of buyer interest and could lead to a reversal or stabilization.
Key Levels:
Resistance (Zone A): 59% - 60%
Support (Zone B): 54.5% - 55%
Projection:
If rejection from Zone A occurs, a bearish movement towards Zone B is likely.
A potential bounce from Zone B could lead to a recovery in BTC dominance.
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