ETH stalls at TBO resistance as BTC/Stablecoin dominance falls
ETH failed to close above TBO resistance (23.76) for a fifth straight day. The setup looks “deeply suspicious,” suggesting the ETH breakout may not be imminent. MooninPapa expects a pullback toward the Fast line near 22.26, with short-term structure leaning sideways-to-lower rather than a clean upside continuation.
BTC printed another green daily close, but BTC RSI is overbought (70.76) and shows bearish divergence (lower highs vs prior peaks). This weakens momentum signals for the broader market.
On Thursday, both BTC dominance and stablecoin dominance dropped sharply, while altcoins surged. The rally in OTHERS, TOTALE50, and TOTALE100 is framed as rotation/short-squeeze/exit-pump behavior—not durable risk-on follow-through. Altcoins trading near resistance and potentially vulnerable to retracements include XRP, BNB, SOL, LINK, SUI, ENA, LDO, INJ, and FIL.
Macro inputs are mixed. DXY hints at a rebound, while equity/commodity signals suggest choppy conditions. Net for traders: ETH resistance remains the key battleground, and if dominance-driven flows fail to stabilize, the alt surge could fade quickly.
Bearish
This is bearish for ETH because price action is stuck at a key resistance (TBO 23.76) despite multiple attempts. ETH RSI conditions and the expectation of a pullback toward the Fast line (22.26) suggest downside or range risk rather than breakout follow-through. Additionally, BTC RSI overbought with bearish divergence limits bullish impulse. The sharp drop in BTC dominance and stablecoin dominance coinciding with a rapid altcoin surge is interpreted as rotation/short-squeeze behavior, which often fades—especially when many alts are already near resistance. Mixed macro signals (DXY rebound potential, choppy indices) further reduce confidence in sustained upside moves.