Like the rest of the altcoin market, the coin has been falling throughout the year, posting an 86% drawdown and setting a new low around $0.3. After that, the asset entered a small trading range and is now attempting to break out of it to the upside.
Trading volumes have increased slightly, allowing for a breakout above the MA200 moving average, but there are strong doubts about its ability to hold above that level.
Considering that $BTC may not have fully exhausted its downside potential yet, and its dominance continues to hold at 58.8%, the chances are not very high.
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