Crypto analyst Ali Martinez says the time for altcoins to outperform Bitcoin (BTC) is fast approaching, and Dogecoin (DOGE) may be in line to take advantage.
Martinez tells his 71,900 followers on social media platform X that Bitcoin dominance — which tracks BTC’s market cap relative to the rest of crypto assets — is currently nearing the end of a rising wedge, traditionally considered a bearish pattern if the price breaks below the support line.
Meanwhile, Martinez claims that the OTHERS chart – which tracks all crypto assets except stablecoins and the top 10 coins – is breaking out of a falling wedge pattern. The OTHERS chart is a widely used index to track the performance of altcoins.
Martinez says:
“Things are getting interesting! Bitcoin dominance is showing signs of a potential breakout from a rising wedge, while altcoin market cap is breaking out of a falling wedge.
Altcoin season is fast approaching!
At the time of writing, OTHERS is valued at $212.494 billion, well above model resistance.
Looking at Dogecoin, the largest memecoin by market cap, Martinez says DOGE is also gearing up for rallies.
According to the analyst, DOGE is about to break out of its orbit alongside a trend reversal in the Relative Strength Index (RSI), which tracks an asset’s momentum.
“Dogecoin is preparing for a bullish breakout! And one of two conditions has been met:
The RSI has broken the descending trendline on the daily chart.
“Now we need DOGE to break above the $0.11 resistance!”
At the time of writing, DOGE is trading at $0.107.
As for Solana (SOL), Martinez says the Ethereum (ETH) rival is at risk of another correction – potentially a 40% drop to $85 – if it fails to break above the $154 level.
“Solana needs to break above $154 soon, as a rejection there could trigger a correction, with $85 as the next key support.”
At the time of writing, SOL is worth $146.49.
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