- Bitcoin dominance confirms bearish structure below 64.10% while altcoins gain strength, signaling a potential market rotation ahead.
- Ethereum forms bullish ascending triangle near $2,700 with $3,550 target in sight, showing strong accumulation and breakout potential.
- Structural shifts in BTC dominance and ETH’s price action highlight growing momentum for altcoins amid weakening Bitcoin control.
Bitcoin dominance ($BTC.d) is showing signs of weakness, while Ethereum ($ETH) prepares for a potential bullish breakout. Traders now monitor key support and resistance zones, as structural shifts point to a possible market-wide altcoin rally. Currently, Bitcoin’s dominance is at 64.04%, having recently broken below a crucial ascending trendline that guided its bullish movement. Meanwhile, Ethereum trades near $2,667, with a strong continuation pattern hinting at a possible surge toward $3,550.
Bitcoin Dominance Turns Bearish
Bitcoin dominance has formed a bearish structure after invalidating its previous bullish trend on May 20. The break below the 64.10% trendline, followed by a bearish Change of Character (CHoCH) and Break of Structure (BOS), confirmed a trend reversal. Consequently, sellers gained control, pushing price action into a declining pattern of lower highs and lower lows.
Source: Crypto Caesar
Besides, the zone between 64.10% and 64.40% has now become a strong supply area. Price retested this region several times but failed to break above. Bearish confirmations like multiple BOS events have strengthened this resistance. The dominance chart projects a downward trajectory, targeting key support zones between 63.60% and 62.20%. These levels include a critical BOS area and a “Weak Low” zone that could attract potential buyers.
Ethereum Builds Strength Beneath Resistance
On the other hand, Ethereum has shown strong resilience according to analyst CRYPTOWZRD, forming an ascending triangle in the 4-hour timeframe. This bullish continuation pattern began developing in early May, following a strong rally from below $2,000 to near $2,700. Since then, price has consolidated under the $2,700 resistance while maintaining a steady flow of higher lows.
Source: CRYPTOWZRD
Moreover, the rising trendline has repeatedly supported price, signaling sustained accumulation. The structure now compresses between horizontal resistance and ascending support. A confirmed breakout above $2,700 could propel ETH toward its target at $3,550. The projected move reflects the earlier rally’s range.
However, confirmation depends on a strong close above resistance. Until then, traders watch closely for signs of breakout or rejection. Volume and momentum indicators are absent, so price action remains the primary focus.
