Bitcoin News Today: Altcoin Sector Gains Momentum as Bitcoin Dominance Eases

In a market update on August 19 titled “Key Altcoins To Watch Right Now,” crypto analyst Cryptoinsightuk highlighted a favorable setup for altcoins as Bitcoin dominance appears to be easing, suggesting conditions are improving for a fresh upward move in the altcoin sector. He noted that across major cryptocurrencies, a recurring intraday pattern is emerging—where price forms a range, sweeps the lows and highs, and then momentum begins to build from the range lows [1].

Avalanche (AVAX) was identified as a top tactical pick, with the analyst outlining a limit-bid plan at $22.75. He emphasized that key liquidity sits above the current price, extending up to $28.4 and even toward $30, creating a potentially asymmetrical trade scenario [1]. Dogecoin (DOGE) was labeled the highest-conviction swing trade, with the analyst currently holding positions with an average entry between $0.225–$0.227. He pointed to technical progress through a stop-sweep and retest phase and highlighted the importance of the reclaimed range floor flipping from resistance to support [1]. A broader target for DOGE was noted at the 1.618 Fibonacci extension, around $1.19 [1].

XRP was flagged for a similar range construction to DOGE and AVAX, with a primary target at the top of the range. Cardano (ADA) also appeared on the list, with visible liquidity near prior swing highs at the $1–$1.10 level, suggesting a potential move above $1.10 [1]. Flare (FLR) was described as an “interesting structure” due to a potentially completed or developing corrective sequence, which could seed a stronger impulse move [1].

Ethereum was noted for its attempt to break a short-term downtrend, with bullish divergences appearing on the hourly timeframe. The analyst suggested that if Bitcoin moves to the top of its range and retests all-time highs, the altcoin sector could see an aggressive price discovery phase [1]. Mantle (MNT) was also on the watchlist, with the analyst holding a spot allocation and considering profit-taking near $2 if a clean range break occurs [1].

The analysis reflects a nuanced technical perspective, emphasizing key liquidity levels, Fibonacci targets, and structural setups across several altcoins. The views are based on the analyst’s interpretation of price patterns and do not constitute financial advice.

Source: [1] Crypto Analyst Reveals Key Altcoins To Watch Right Now (https://www.newsbtc.com/news/crypto-analyst-key-altcoins-to-watch-right-now/)