Some Altcoins Are In “Buy Zones” Amidst Market Correction | CryptoGazette
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The crypto market is seeing a new correction these days, and it seems that some of the important altcoins managed to slip into their buy zones.
It’s been revealed that a popular crypto analytics firm says that the latest crypto market dip has placed four altcoins in the ideal buying range.
According to Santiment, 1inch (1INCH), Loopring (LRC), Ren Protocol (REN), and The Sandbox (SAND) are all in “buy the dip” territory.
“After a continued weekend slide, several altcoins have now reached into historical buy the dip territory, according to our MVRV Opportunity & Danger Zone Model. This indicates average trading returns are in the top 10% in terms of typical bottom areas.”
It’s also important to note the fact that last month, the market intelligence platform revealed that there are some updates to its existing MVRV model to provide more accurate and up-to-date data for traders.
“Due to popular demand, we have rebuffed our MVRV Opportunity & Divergence model to update every hour, as opposed to every day by using our new Intraday MVRV metrics.”
The notes continued and said the following:
“This will help keep you up to speed with the latest data on how close your favorite assets are to their next opportunity (or danger) zones.”
More predicitns from Santiment
The other day, we revealed that the crypto analytics firm Santiment is addressing what can trigger a new Bitcoin rally. The crypto market is recovering following multiple losses caused by price corrections lately.
The crypto analytics firm notes that there is one indicator that could signal the beginning of a positive breakout for Bitcoin (BTC).
As BTC is now trading below the $40,000 level, Santiment made sure to highlight the fact that gold, on the other hand, is soaring.
As noted by the online publication the Daily Hodl, at the time of writing, gold is up roughly 5% in the last two weeks, which is a considerable amount for the precious metal.
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