The post <a href="https://coinpedia.org/price-analysis/altcoins-may-soon-fall-into-the-sell-the-news-trap-did-the-bears-diffuse-the-santa-rally/" rel="noopener noreferrer nofollow">Altcoins May Soon Fall Into the ‘Sell the News’ Trap: Did the Bears Diffuse the Santa Rally?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The altcoins have gained extreme strength since the middle of October, which has lifted the markets close to the crucial resistance levels. With a nice push beyond the levels, the altcoins are expected to trigger a fresh upswing, which may even trigger a strong AltSeason. The markets appear to be allowing reloading and accumulating, as the biggest wave seems to be fast approaching.
A popular analyst, anonymously known as <a href="https://twitter.com/StockmoneyL/status/1739675227234222187" target="_blank" rel="noopener noreferrer nofollow">Stockmoney Lizards</a>, points towards the altcoin market cap, which is heading towards the 2.618 FIB Extension level. The levels are expected to hold on around these levels for a few more days, and the ETF news is likely to lead to a short spike to achieve the levels around $235 billion. However, the analyst believes the levels could face rejection as they may fall into the trap of ‘buy the rumour, sell the news.”.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/UKMHKXWKeDFj6Wm4Xa3q8l7WmgqM6G86bb0J2cJ21dsMFvgwhFLyQlKcFkYGAwgmTnfCApfB2codrEAgLGS4u0JpRJRVrm5gYcFnQl_ZpZNseRzTwrPwTsl0lnypMuTf3dTMqeQk3luZxMXhFfAITqGpRyvpmW81p_qqgQys5JjudFWkHhIxWdRDAWiaPQ" alt="">
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Besides, Bitcoin’s dominance drops heavily and breaches the ascending trend line that it held since December 2022. The levels continue to mark fresh lower lows, and a weekly close below or within the levels may confirm the potential breakdown of the uptrend. This may offer the altcoins a great opportunity to propel and lay down a fresh upswing ahead.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/4B4XzUS40HQlPiF4YOGXht-0a8KrjvtR4R6YAED5dTrFFNTMfPOBGE2sPnlatHnB5h8ihvHyKxD5YV_IqCsOhctfzL6OWQgQDHYU1WufbERjCQgjej5cHiN3NVO7wydaIZtjg1vX9h49RascIVhLVkMZ_IvWGgXd9S4FidDuyvFkbdLzvl0x3AFhsMavHQ" alt="">
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The BTC dominance hit the yearly ATH of 55.26% a few days ago, and since then, the levels have continued to drop heavily. The dominance has dropped by over 6.5% and enters the crucial support zone between 51.69% and 52.03%. A weekly close below these levels that appears to be very likely may set the foundation for a strong AltSeason.

Altcoins May Soon Fall Into the ‘Sell the News’ Trap: Did the Bears Diffuse the Santa Rally?

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