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Crypto Analyst Predicts Short-Lived Rallies for Ethereum Competitors Polkadot, Cardano and Avalanche

Crypto analyst Benjamin Cowen predicts that altcoins such as Polkadot, Cardano, and Avalanche will experience short-lived rallies before crashing back down to fresh lows, following a similar pattern to that of 2018. Cowen believes that the current altcoin rally will stall once Bitcoin's dominance level reestablishes itself.

He notes that a number of altcoins are currently respecting their 20-week simple moving average as resistance. Cowen previously predicted that altcoins would get "crushed" as Bitcoin's dominance level looked primed to rise, which currently sits at 49.9%.

Bitcoin Bitcoin $96,056.67
-2%
Polkadot Cardano
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