Three key indicators suggest a potential explosive surge for altcoins in the near future.

During this cycle, Ethereum has underperformed Bitcoin, decreasing by 65% from its peak, while Bitcoin attained new records before retracting 30%. The altcoin market is exhibiting signs of improvement, displaying bullish divergences and nearing a resistance level of $1.25 trillion as Bitcoin’s dominance diminishes. According to TradingView, Ethereum did not achieve a new high and fell significantly this cycle. Conversely, Bitcoin reached a peak before experiencing a drop of only 209.50%. The ongoing disparity in performance has led to ongoing speculation regarding the potential for an altcoin resurgence, whether it is on the horizon or still a distant prospect. Source: TradingView. Since August 2022, Bitcoin’s market dominance has been steadily increasing and has stayed within an upward trending parallel channel. Over the last few weeks, the support and resistance levels of this channel have been tested multiple times. Last week, Bitcoin dominance hit the resistance trend line once more, aligning with the 65% resistance level and ended with bearish weekly candles. This initial rejection could raise the chances of a decline towards the support line, potentially breaching the 0.620 Fibonacci retracement level around 60%. This chart exercise lends more validity to the claims regarding the altcoin’s pivotal moment. Nonetheless, the technical indicators are inconsistent.