Four altcoins have been identified by a renowned crypto analysis firm that offer attractive entry opportunities.
Santiment: These 4 altcoins are giving bullish signals
In recent Twitter analysis, Santiment has joined the DeFi-focused altcoin projects Aave (AAVE), Compound (COMP), Maker (MKR), and Ren (REN) ecosystems. reported that power-giving cryptocurrencies are approaching their lowest levels. The firm elaborates this on a few points:
Recently, AAVE, COMP, MKR and REN have all shown very distinct lows. All of this can be accurately estimated by looking at how many active deposits a crypto generates public address activity.
Rate of bottom indicators, active deposits (AD) daily according to analytics firm active address (DAD) – calculated by dividing by the AD/DAD number. A bullish trend is indicated by a low ratio, while a bearish trend is indicated by a high ratio. Starting with AAVE, Santiment shares that he expects the DeFi platform to rise due to the low AD/DAD ratio:
We can speculate that low AD/DAD ratios indicate good buying chances.
Santiment sees a bright future for Compound (COMP)
The company’s second altcoin project, Compound (COMP). Based on the AD/DAD ratio, Santiment believes COMP has a bright future. The cryptocurrency’s reaching ATH at this value is another indicator that supports the optimistic mood, according to the firm:
Just a few days ago, Compound’s AD/DAD value hit an all-time low. This is a good indicator.
Next is the native cryptocurrency of the Ren protocol, which allows cryptocurrencies to move on different Blockchains. According to the analytics firm, REN had a “bottom jump” last month that could offer a good entry point. Santiment believes that MKR’s volatility will be significantly weaker than Maker’s native token. As for the price forecast, Santiment says that the REN price will accompany the rise, although not as strong as the other cryptos on the list:
AD/DAD started falling at the end of January. We believe it has the potential to rise even more, though not as much as other tokens.
Altcoin market is painted red
As we quoted as Kriptokoin.com, the price movements of Bitcoin in the 40 thousand dollar region are critical for the course of the market. At the time of writing, the last 24-hour losses in the altcoin market are approaching around 5%, accompanied by BTC, which instantly touched $ 39,781.74.
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