BTC Attempts a Monday Push

Neither this post nor any other on cryptofal.com should be taken as financial advice.

BTC is trying to test resistance once more this morning.

BTC is once again above $51k coming into Monday morning. The MFI is making an attempt at trending upwards, however, it is still bordering oversold territory. The MACD is also attempting to trend upwards. Volume is increasing into this attempt at an uptrend. The overall cryptocurrency market cap is over $2.4 trillion once more and BTC dominance is at 40.2% while ETH dominance is at 20.1%. With both ETH and BTC dominance dipping, alt coins are seeing large inflows of money entering the space.

Ethereum is riding a line of resistance turned support currently. The MFI is attempting to continue a strong uptrend, as momentum on the MACD remains largely neutral. Like with BTC, ETH is losing market cap dominance as alt coins start to take in larger inflows of money.

The longer Ethereum consolidates in this area, the stronger the support becomes.