Altcoins moved higher while a lack of buy volume prevented Bitcoin and Ethereum value from breaking out after the completion of a bullish inverse head and shoulders pattern.
On 26 May the bullish momentum that had propelled Bitcoin and altcoins into a relief rally was somewhat subdued as traders remain unsure of what may happen next.
Despite the continued struggle, a few positive signs like a decline in BTC exchange deposits and an uptrend in addresses accumulating Bitcoin suggest that bears have stopped selling and the worst of the downturn may have passed.
Earlier in the day, Ether (ETH) also rallied close to the $3,000 level but the pullback in BTC price saw the top altcoin fall below $2,800.
Since May 25, MATIC price has rallied 50% from a low of $1.51 to an intraday high at $2.44 on May 26.
According to data from Cointelegraph Markets Pro, market conditions for MATIC have been favorable for some time.
Other notable altcoin performances include an 89% gain for SKALE Network (SKL) and a 67% rally from Enjin Coin (ENJ) . Origin Protocol also gained 53%.
The overall cryptocurrency market cap now stands at $1.7 trillion and Bitcoin’s dominance rate is 42.5%.