Some altcoins are poised to grab more market dominance.  Covered: What to Look for In An Altcoin From A Technical Analysis Point-of-View Three Altcoins Charts That Are Posied to Take More Market Dominance Three Altcoins to Keep an Eye on Which Altcoins Are Gearing Up Towards to Grab More Market Share? 2021 was a year of […] The post TA: What Can We Learn From Cryptos Whose Charts Against BTC Looked the Most Promising in 2021? appeared first on CryptosRus.

TA: What Can We Learn From Cryptos Whose Charts Against BTC Looked the Most Promising in 2021?

Some altcoins are poised to grab more market dominance. 

Covered:

  • What to Look for In An Altcoin From A Technical Analysis Point-of-View
  • Three Altcoins Charts That Are Posied to Take More Market Dominance
  • Three Altcoins to Keep an Eye on

Which Altcoins Are Gearing Up Towards to Grab More Market Share?

2021 was a year of growth in the crypto market, and there is no doubt about it. All we have to do is look at the yearly gain for the entire crypto market and major cryptos like BTC, ETH.

Some cryptos like SOL, LUNA, AVAX AXS, MATIC, etc., were on fire in 2021. Even though some of them couldn’t sustain their momentum all year long, they all made their run towards the upside.

We will use Bitcoin as a benchmark to compare other coins against it. Bitcoin (BTC) gained about 48% in 2021, and we’ll look at some altcoins that have outperformed that gain in 2021.

What are some common characteristics of altcoins that have moved up much against Bitcoin in 2021? And who could be the ones who are gearing up for potentially a big move against Bitcoin?

RECOMMENDED: ALTCOIN MARKET COULD BE ON THE BRINK OF AN EXPLOSIVE RALLY

 

Example 1: Polygon (MATIC) in 2021 

MATIC/BTC: Weekly

MATIC gained about 9000% in 2021.

It spent a significant amount of time inside a trading range. The first one lasted for a few weeks, but the second one lasted much longer until it resolved the upside.

Once its fast momentum (yellow) was turning around and crossed over slow momentum (red) inside the consolidation zone, it was the beginning of its breakout to the upside.


Example 2: Solana (SOL) in 2021

(SOL/BTC: Daily)

SOL gained about 7700% in 2021. SOL showed a wedge consolidation that broke out to the upside, followed by a descending bull flag formation, which also resolved to the upside.

Take a look at how the momentum oscillator behaved before each breakout. Fast momentum (yellow line) held above slow momentum (red line) both times.

The squeeze indicator showed a low-compression squeeze which fired to the upside during the wedge consolidation.


Example 3: Terra (LUNA) in 2021

LUNA/BTC: Daily

LUNA gained about a whopping 12800% in 2021.

LUNA also had a wedge consolidation which also resolved to the upside, and then came a descending bull flag which also resolved to the upside, and the most recent price action is showing another bull flag forming.

I didn’t draw a box around this one because I want to see how it behaves after the first week of the new year. Now let’s look at potential candidates who could move sharply against BTC.


Candidate 1: Tezos (XTZ)

XTZ/BTC: Weekly

We’re looking at a very long wedge, and inside this wedge, XTZ/BTC has been forming a series of new bases (saucer bottom) for about a year.

The highlight is that the momentum oscillator has made higher lows every time a new base is formed. Fast (yellow line) momentum is now over slow (red line) momentum. The squeeze indicator is in a low-compression with flat momentum.


Candidate 2: Chainlink (LINK)

LINK/BTC: Weekly

LINK/BTC is trying to break out of a giant triangle formation.

Fast (yellow line) momentum is sharply moving against slow (red line), and squeeze indicator is in a low-compression with momentum histogram turning from red (bearish & falling) to yellow (bearish & rising).

If 50MA (salmon) gets breached with momentum, we will see LINK’s price moving sharply against BTC to the upside.


Candidate 3: Ethereum (ETH)

ETH/BTC: Weekly

ETH/BTC: Daily

This one is my favorite.

ETH is making a move against BTC already. It’s only a matter of time until ETH starts grabbing more market dominance.

The momentum is there, the structure is there, and the pattern is also good. I won’t be surprised if we wake up with the kind of good news that could trigger ETH/BTC to shoot up.

Today the Crypto Fear & Greed Index reading shows an “Extreme Fear” level of 24.

It’d be interesting to see how these altcoins will start behaving when we see its reading shows “Greed.”

Indicators Used: (Click Here)

  • Not Financial Advice

RECOMMENDED: THREE HOT ALTCOINS THAT COULD HAVE UPCOMING COINBASE LISTINGS

 

 

The post TA: What Can We Learn From Cryptos Whose Charts Against BTC Looked the Most Promising in 2021? appeared first on CryptosRus.