As Bitcoin starts heading towards a trend reversal, the crypto market is also beginning to stir. The segment of the crypto market that has been crushed the most is the small market cap altcoins. This sector is now showing signs of a breakout of its own. OTHERS chart reaches breakout point Source: TradingView The OTHERS chart tracks the price of the combined market capitalisation of the smaller cryptocurrencies. It excludes not only Bitcoin, but the other top 10 cryptocurrencies by market cap as well. This gives a good idea of how the main body of the crypto market is progressing, giving prospective investors an idea of when to start entering this far more risky end of the crypto sector. As can be seen in the weekly chart above, the OTHERS price is at resistance, together with the descending trendline. If these can be penetrated by the bulls, momentum could force the price up and through the next resistance at $235 billion. The Stochastic RSI at the bottom of the chart is on the verge of promising that upside price momentum as the two indicator lines start to play with the incredibly important 20.00 level. USDT Dominance chart - potential impending breakdown Source: TradingView A chart that supports the thesis of an altcoins breakout is that of USDT.Dominance. This chart displays that dominance (5.37%) is right on the brink of falling through the bottom of the ascending channel, as well as through the horizontal support level. This could trigger a descent to the next major support level at 4.69%, giving the altcoins the chance they need to break out. $SUI - one of the best performing altcoins Source: TradingView $SUI is one of the leading altcoins, outside of the top 10. This altcoin is currently in 18th position for the rankings, with a market cap of $7.29 billion. It might be argued that $SUI has been one of the best performing altcoins over the last several months, and its general upwards trajectory, following a fairly deep correction, looks like it could continue. Once (and if) the $SUI price gets through the major resistance level at $2.35, there is not a lot of resistance until $3. Given that the Stochastic RSI is now pointing upwards, $SUI could be heading back to the all-time high and beyond. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
