Altcoins Now In ‘Opportunity Zone’, Key Altcoins to Buy on Dips
During the last week, altcoins have entered a steeper correction with the Ethereum (ETH) price correcting over 22% with a similar correction across the board. While the market is currently under a bearish grip, on-chain data and market analysts believe that this could be a great time to buy.
Altcoins In the Opportunity Zone
In light of Bitcoin’s recent decline to a two-week low of $61.7K on Tuesday, insights from on-chain data provider Santiment shed light on potential opportunities within the cryptocurrency market. According to Santiment’s MVRV Opportunity & Danger Zone Model, several altcoins have reached a favorable mid-term trading zone.
This zone, deemed as an “opportunity zone,” is breached when an asset’s 30-day, 90-day, and 365-day average wallet returns collectively enter negative territory. For traders seeking to capitalize on the current market conditions, Santiment identifies notable candidates within this opportunity zone.
Among these are BOUNCE ($BOUNCE), Lido ($LDO), OmiseGO ($OMG), Storj ($STORJ), and Synthetix ($SNX), offering potential prospects for strategic investment amidst the market’s fluctuating landscape, reports Santiment.
Polygon, Chainlink, and Arbitrum on Radar
Renowned crypto analyst Ali Martinez brings attention to the remarkable accuracy of the TD Sequential indicator in forecasting the price movements of Polygon ($MATIC) since mid-February. Analyzing the 4-hour chart data, Martinez highlights the indicator’s consistency in providing accurate predictions.
Currently, the TD Sequential indicator is signaling a buying opportunity for $MATIC, hinting at a potential rebound from the $0.92 support level. This development suggests a favorable outlook for Polygon ($MATIC), potentially paving the way for a resurgence in its market performance.
Renowned crypto analyst Michael van de Poppe identifies a substantial opportunity for investors to capitalize on discounted prices. Citing a general rule of thumb, he recommends considering investments in altcoins trading at discounts ranging from 25% to 60% during bull cycles.
One such altcoin that van de Poppe highlights is Arbitrum (ARB), which currently presents a considerable discount and shows signs of readiness for a new upward trend. after yesterday’s 25% correction, the ARB price has already bounced back 5% earlier today, moving back to $1.66.
Another popular altcoin that Poppe is bullish about is Chainlink. The LINK/BTC pair is showing a good setup for a major breakout and surge ahead.
#Chainlink at these price levels in their BTC pair is just a great opportunity.
Very happy to be purchasing some today on this one. pic.twitter.com/rjjn7HYoSO
— Michaël van de Poppe (@CryptoMichNL) March 19, 2024
The post Altcoins Now In ‘Opportunity Zone’, Key Altcoins to Buy on Dips appeared first on CoinGape.
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Altcoins Now In ‘Opportunity Zone’, Key Altcoins to Buy on Dips
During the last week, altcoins have entered a steeper correction with the Ethereum (ETH) price correcting over 22% with a similar correction across the board. While the market is currently under a bearish grip, on-chain data and market analysts believe that this could be a great time to buy.
Altcoins In the Opportunity Zone
In light of Bitcoin’s recent decline to a two-week low of $61.7K on Tuesday, insights from on-chain data provider Santiment shed light on potential opportunities within the cryptocurrency market. According to Santiment’s MVRV Opportunity & Danger Zone Model, several altcoins have reached a favorable mid-term trading zone.
This zone, deemed as an “opportunity zone,” is breached when an asset’s 30-day, 90-day, and 365-day average wallet returns collectively enter negative territory. For traders seeking to capitalize on the current market conditions, Santiment identifies notable candidates within this opportunity zone.
Among these are BOUNCE ($BOUNCE), Lido ($LDO), OmiseGO ($OMG), Storj ($STORJ), and Synthetix ($SNX), offering potential prospects for strategic investment amidst the market’s fluctuating landscape, reports Santiment.
Polygon, Chainlink, and Arbitrum on Radar
Renowned crypto analyst Ali Martinez brings attention to the remarkable accuracy of the TD Sequential indicator in forecasting the price movements of Polygon ($MATIC) since mid-February. Analyzing the 4-hour chart data, Martinez highlights the indicator’s consistency in providing accurate predictions.
Currently, the TD Sequential indicator is signaling a buying opportunity for $MATIC, hinting at a potential rebound from the $0.92 support level. This development suggests a favorable outlook for Polygon ($MATIC), potentially paving the way for a resurgence in its market performance.
Renowned crypto analyst Michael van de Poppe identifies a substantial opportunity for investors to capitalize on discounted prices. Citing a general rule of thumb, he recommends considering investments in altcoins trading at discounts ranging from 25% to 60% during bull cycles.
One such altcoin that van de Poppe highlights is Arbitrum (ARB), which currently presents a considerable discount and shows signs of readiness for a new upward trend. after yesterday’s 25% correction, the ARB price has already bounced back 5% earlier today, moving back to $1.66.
Another popular altcoin that Poppe is bullish about is Chainlink. The LINK/BTC pair is showing a good setup for a major breakout and surge ahead.
#Chainlink at these price levels in their BTC pair is just a great opportunity.
Very happy to be purchasing some today on this one. pic.twitter.com/rjjn7HYoSO
— Michaël van de Poppe (@CryptoMichNL) March 19, 2024
The post Altcoins Now In ‘Opportunity Zone’, Key Altcoins to Buy on Dips appeared first on CoinGape.
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