Market Cap ETH Dominance, %
Long

$ETHBTC rolling over. $ETH.D in uptrend. $SOL.D looks bullish

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What is happening in the Altcoin universe ? Is Altcoin season in? ETH and SOL are the best indicators of the overall sentiment in the Crypto market. Altcoin season usually starts when ETHBTC and ETH.D both bottoms out. That happened in April. Since then, ETHBTC and ETH.D have been in an uptrend. Our cycle target for ETH.D remains 17%.

BTC.D: Cycle tops are in. ETH.D: Bounce form the all-time lows for CRYPTOCAP:BTC.D by RabishankarBiswal — TradingView

But there is another phenomenon which can indicate the rotation to lower cap Crypto. The ETHBTC is rolling over in the last couple of weeks and SOL.D is attempting a breakout. SOL.D did reach the cycle peak of 3.9% and since then it has rolled over and currently 2.92%. If SOL must prove its serious Mega cap in the Altcoin space, then it must at least reclaim the previous highs.

Verdict: Altcoin season is on. ETH and SOL looks promising now. ETH.D should reclaim 17% and SOL.D should reach 4%.

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