- Bitcoin remains firm near $103K while market dominance holds above 65% without breaking.
- ETH stays below $2500 and keeps losing strength as its dominance slips under 9.42 EMA.
- Unless ETH climbs above $2.6K soon, it could fall deeper, with risk levels rising each day.
With a market dominance of 65%, Bitcoin has rallied a bit. As of press time, Bitcoin (BTC) is priced at $103,841 on June 21, with a 0.44% gain. Despite the uptick, BTC hovered dangerously close to a critical ascending trendline aligned with $103,000, which has acted as support since April. A drop below it could accelerate a drop toward the $100,424.
Source: Tradingview
The price continues forming an ascending triangle pattern, with $111,917 marking a strong resistance barrier. The 21-day EMA currently suppresses the price, with bulls unable to sustain movement above it. Immediate Fibonacci targets are at $106,170 and $111,917, followed by $115,043 and $119,020.
Technical indicators further support declining strength. The MACD line records -527.78, which is below the signal of -448.08. The histogram bars are becoming red and keep on growing. This affirms an ongoing deflating pressure and dying impetus. Unless BTC reclaims $106,000 and breaks resistance, the bullish setup risks invalidation.
Ethereum Price Analysis
Ethereum (ETH) ended June 21 at $2,438.46, gaining 1.33% intraday from an open of $2,406.40. The price touched a high of $2,449.02 but quickly pulled back. ETH has remained trapped within a defined horizontal channel from $2,335 to $2,881 since late May. Buyers appear hesitant to drive the price toward the upper limit.
Source: Tradingview
Structurally, ETH is weakening. It has closed below its 21-day EMA for over two weeks, showing reduced bullish interest. The midpoint support at $2,335 is now critical. A daily close below this level exposes ETH to the 1.0 Fibonacci level at $1,788.89 and 1.272 at $1,491.65.
The MACD line is at -31.65, while the signal line reads -1.73. Though the histogram still sits at 29.91, momentum continues to drop. Without a strong reclaim above $2,600, downside risks increase. The range appears exhausted, with more pressure building at lower support.
Related: Crypto Market Dips Slightly, BTC and ETH Hold Strong
Bitcoin Dominance Climbs as Ethereum Falls Behind
Bitcoin dominance at 65.07% on June 21. The dominance has remained above the 9-day EMA of 64.86%, supporting sustained inflows into BTC. This structure of higher highs and higher lows affirms the growing investor preference for Bitcoin over altcoins.
In the meantime, the dominance of Ethereum is weak. It ended at 9.30% and showed a 0.88% increase at the end of its sideways movement in the range of 9.00% and 9.80%. ETH has been stuck below the 9-day EMA of 9.42 percent. This acts as a restriction to any bullish case.
Repetitive failures due to the 9.80% ceiling and the recent tests close to the support wave at the possibility of a breakdown. Bitcoin still demonstrates a structural strength. Nonetheless, the dominance chart of Ethereum will indicate rising indecisiveness and threat because of additional losses.
