Crypto Market Dips Big: Is Now the Time to Buy Altcoins?

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Well, hold onto your digital wallets, folks! Bitcoin took a nosedive to a mere $112,000, and the entire cryptocurrency market joined in, splashing around in the red like an out-of-control toddler in a kiddie pool. Is this the start of a massive bearish correction, or could this be the ultimate buy-the-dip moment for those brave (or perhaps reckless) enough to dive in?

Worth a punt on altcoins?

The crypto world is in complete turmoil again. Bitcoin has tumbled out of its precious ascending channel and seems intent on returning to the $112,000 support level for a little reunion. Meanwhile, altcoins are having a party of their own, with some dropping 6 or 7%, and others nosediving by a glorious 10%.

Now, I know what you’re thinking: “A dip? A chance to scoop up some altcoins on the cheap?” Well, yes, that’s one way to look at it. But here’s the kicker-do you dare to make a move in this volatile, chaotic time, or will you end up trapped like a fly in a very expensive web if this dip keeps plummeting?

Total2 hits strong supports

Let’s talk about Total2 for a second-no, it’s not a new cryptocurrency, it’s the chart that tracks the combined market cap of all cryptos excluding Bitcoin. And frankly, it’s a bit of a drama queen. It struggled to hold onto the ascending trendline and finally gave in to a strong correction. Are we looking at the beginning of a larger collapse? Or is this just a healthy little reset for the altcoin gang?

At this stage, things are looking mildly hopeful. The altcoin market cap dipped to the 0.786 Fibonacci level, had a little tantrum, and then bounced back. So, if you squint just right, you might see the potential for a recovery. But hey, if this dip continues, there’s still a safety net at $1.53 trillion. Hold onto that number-because if it breaks, we could be staring at a spiral down to $1.4 trillion. Yikes.

A rejection for Bitcoin dominance?

If you’re going to dip your toes into altcoins, you better take a peek at Bitcoin dominance (BTC.D). You see, the BTC.D chart is like the overbearing parent at a school play-it just can’t seem to stay out of the spotlight. It’s been hanging below its long-term trendline since late 2022, and there’s a chance that a mini rally might get slapped down at the 58.8% level. So, it looks like altcoin bulls are getting their time to shine.

Potential entry for $SOL

Now, if you’re wondering which altcoins might be worth your time, look no further than $SOL. The price has corrected itself nicely and is hanging out near the $210 horizontal support and the 0.786 Fibonacci level. The stars are aligning as it sits comfortably at $220, which is the sweet spot where the horizontal support, Fibonacci level, and ascending trendline meet. With that much convergence, it’s practically begging for a bounce.

$DOGE at the end of a healthy correction?

Let’s get even bolder. What about $DOGE? The meme coin that could? $DOGE just took a healthy 25% correction, plummeting all the way down to the ascending trendline. Now, it’s hanging onto some solid horizontal support. If it can maintain that, we might be in for a nice little rally. Even better, the Stochastic RSI is doing a little dance at the bottom of the chart, ready to reset and bring some positive price momentum. Who knows, maybe this dog has more bite than we think?

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2025-09-22 14:57