Analysts at Santiment say that as a result of their work, 4 altcoin projects are oversold and near the bottom, and they are poised to rise in the coming weeks. For details, continue reading Kriptokoin.com.
Santiment identified altcoin projects that have bottomed out and are ready to rise
Santiment, trading volume for Cardano (ADA), Polygon (MATIC), Crypto.com Coin (CRO) and Chainlink (LINK), It offers a powerful and oversold qualifying tool that takes into account high market capitalization and active addresses currently corresponding to low returns.
As assets mostly change on Tuesday, altcoin projects such as ADA, MATIC, CRO, and LINK seem particularly oversold according to our scan. We take into account high market caps, trading volume and active addresses along with low returns on networks.
The underlying logic is that the high imbalance between fundamental factors and the current market situation , showing that these crypto assets are currently undervalued and prices appear poised for further growth in the coming weeks. Applying this methodology to the current market situation, Santiment experts identified the following oversold (undervalued) altcoin projects: Cardano (ADA), Polygon (MATIC), Crypto.com Coin (CRO), and Chainlink (LINK).
These altcoins show double-digit percentages of price change from the level theoretically expected by the model. The high valuation of Cardano and Polygon makes them prime acquisition targets. According to analysts, if the crypto market continues to recover, ADA and MATIC prices could rise at higher rates. Technical analysis can be used to support Santiment’s methodology and identify bull and bear patterns. Therefore, Cardano and Polygon may exit the ‘oversold’ area due to the price increase, according to Strong and Oversold Screener. Crypto.com Coin and Chainlink have a similar dynamic, but may have lower price flow rates.
Crypto market overview
As the crypto market enters a stabilization phase with the decreasing fluctuation in the prices of Bitcoin, Ethereum and other cryptocurrencies; traders tend to vaccinate tokens that they think have a better chance of breaking out of the bearish circle. According to
crypto analyst Dmytro Kharkov, the gap between fundamental and technical factors is driven by different elements. The analyst finds Santiment’s analysis reasonable to differentiate between cryptocurrencies in terms of potential bullishness. According to the analyst, historical data confirms the accuracy of this strategy in exceeding average crypto market returns.
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