Ether, XRP, and DASH Push Higher as the Altcoin Market Gains Momentum

Bitcoin Cash ABC, Bitcoin Cash SV, Dash, and Ethereum Classic have all shown increases of more than a hundred percent recently but it is a bit premature to be calling for celebrations at the new altcoin season? Perhaps no, but at least it's a reason to dedicate some attention to altcoin market analysis.

Total altcoin market capitalization breaks downtrend and facing resistanceThe total altcoin market capitalization broke the resistance at $65 billion and rallied towards the next resistance at $77 billion which is the current level.

Total altcoin cryptocurrency market capitalization chart.

The current price action within the altcoin markets has many similarities to the price movements observed in February 2019.

The total altcoin capitalization has been hovering below the $60 billion resistance as well for some time.

Total altcoin cryptocurrency market capitalization 6-hour chart.

The altcoin dominance chart is showing a potential breakout to the upside and the 34% level is tested for the third time now.

If the altcoin dominance chart breaks out to the upside, targets of 44% and 54% are defined from the charts.

What is required to maintain a surge in altcoin dominance? The large caps have to start moving, starting with Ethereum.

The retrace ended at the January 2016 levels, which remarkably also marked the low for altcoins in the past market cycle.