Cardano And More Altcoins Flash Oversold Signals | CryptoGazette
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It’s been just revealed that ADA and more altcoins are flashing overbought signals. Check out the latest reports about the market today below.
It’s been just revealed that according to Santiment, Cardano (ADA), Polygon (MATIC), Crypto.com Coin (CRO) and Chainlink (LINK) are all in the “strong and oversold” territory.
The market intelligence firm stated the following:
“As assets have mostly ranged on Tuesday, altcoins like ADA, MATIC, CRO and LINK look particularly oversold according to our screener.”
The firm continued and pointed out this:
“We account for high market caps, transaction volume, and active addresses, combined with low returns on networks.”
Santiment also made sure to explain which criteria help determine if an asset’s price is ready to turn around.
“As stated above, high market caps, transaction volume, and active addresses, combined with low returns on networks make up a particularly good way of gauging a token’s turn-around point. Assets on this list meet the criteria for historically increased likelihood of bottoms.”
All four crypto assets Santiment mentions are rallying after Tuesday’s market-wide dip. But now, the crypto market looks anything but great, amidst the massive tensions that are going on in the geopolitical world.
Cardano in the news
There have been a lot of crypto rpedictoins lately and below, you can check out a new one about Cardano.
The anbalyzt who goes by the name Capo addressed Cardano, and Capo said that he sees ADA finding support at $0.50 now that bears breached support at $1.00.
“Next level of support is like $0.50.”
He also said on Twitter that he sees Ethereum dropping all the way down to $1,400 after rejecting at resistance around $3,000.
“This.”
At the time of writing, Ethereum is trading at $2,719. The digital asset is down nearly 15% from its seven-day high of $2,331.
Stay tuned for more news and make sure to check out the crypto market as well.
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