EfloudTheSurfer, a renowned Turkish crypto analyst known for past accurate predictions, has recently shared some significant forecasts regarding BTC market dominance, ETH, and ARB Coin. The analyst, who had previously identified major price movements and critical ranges, discussed the potential for altcoin growth in light of the recent pullback in Bitcoin dominance (BTCD).
The analyst suggested that if BTCD continues to decline, it could signal a bullish scenario for altcoins. He indicated that certain areas could act as support zones and that dominance might increase with micro-LTF confirmations. However, a break above the 53.7% level could pause the bullish scenario, potentially due to a strong Bitcoin rally.
EfloudTheSurfer also highlighted the importance of Ethereum‘s performance against Bitcoin, noting that ETH’s gains are crucial for both the weakening of BTCD and the overall bullish sentiment in altcoins. Despite Ethereum not showing the expected performance this year and still being far from its yearly highs against BTC, the analyst provided two scenarios for those considering spot investments or holding margin positions in altcoins.
For Ethereum, he suggested either waiting for a break of the red box and the RH area or buying in parts at the 0.053 (EQ) and RL area, while also considering BTC Dominance analysis as useful. The analyst continued to share insights on ARB Coin, where he is currently 38% profitable from a long position.
He shared multiple trades for ARB Coin but focused on the last three, with profits ranging from 6.6% to 23%. EfloudTheSurfer follows a strategy of selling at resistance and buying at support, which has allowed him to grow his portfolio. While he has closed some positions, his long-term spot investments continue, and he plans to consider new positions if bearish signs emerge, targeting the area marked with a green line for potential re-entry.
Overall, EfloudTheSurfer’s analysis points to a cautiously optimistic outlook for altcoins, with specific attention to key levels and market dominance trends, offering strategic insights for traders and investors in the volatile cryptocurrency market.