Bitcoin's Dominance Wanes: Altcoin Season Looms

Bitcoin's Dominance May Have Peaked: Is the Biggest Altcoin Season on the Horizon?

Bitcoin's dominance over the cryptocurrency market has been a dominant force for years, but recent trends suggest that this may be changing. As Bitcoin's price has stabilized and even dipped slightly, other cryptocurrencies have begun to gain traction, leading some to speculate that an altcoin season may be on the horizon.

One of the most notable trends in the altcoin market is the rise of Solana (SOL). Despite a recent dip of nearly 8% in the past week, Solana remains up by almost 50% over the last six months. Its current price ranges between $182 and $234, approaching the nearest resistance at $265. If the upward trend continues, Solana could reach the next resistance level at $318, which would be an increase of about 30% from its current price. Transaction volumes have notably increased, according to NOW Wallet, an all-in-one app for securely managing cryptocurrencies like Solana without custody or hidden fees.

Cardano (ADA) is facing bearish pressure as its price moves between $0.71 and $0.95, dropping nearly 19% in the past week and about 29% over the month. The short-term average price is below the long-term average, signaling downward momentum. The strength index shows neutral activity, but negative indicators suggest a bearish trend. If the price dips below the support at $0.61, it could reach the next support at $0.37. Conversely, if buyers step in, the price might target resistance levels at $1.09 and $1.32. Notably, transaction volumes have risen, according to NOW Wallet, a secure app for managing cryptocurrencies.

XRP is hovering between $2.29 and $3.04. Despite a 14% drop over the past week, it has risen by over 8% in a month and surged by nearly 338% over six months. Momentum indicators suggest the market is neutral but leaning towards bullish. If the price moves past the $3.50 resistance level, it could reach $4.25, which would be an increase of over 40% from current levels. Notably,