Santiment and popular cryptocurrency analyst Bluntz talked about Skale (SKL) and various altcoin projects. Their statements made investors happy, especially since they expected these projects to rise. Here are the details…
Centiment: SKL, may rise further
In the latest developments in the cryptocurrency market, Santiment, a crypto analysis platform, highlights the impressive performance of the Skale Network (SKL) token, pointing to the potential for further gains. SKL has tripled its market value since mid-August due to an increase in the number of addresses. Traders are currently shorting SKL, expecting a pullback in prices, but Santiment suggests that the token could continue its rise as short positions are liquidated.
At the time of writing, SKL is trading at $0.0601, reflecting a significant 209 percent increase from its mid-October low of $0.0194. Ethereum, the second largest cryptocurrency by market cap, is also in focus as Santiment observes a significant increase in address activity. This increase is considered a promising sign, especially since it was not accompanied by a corresponding movement of ETH on exchanges. The increase in address activity for Ethereum, currently trading at $2,013, indicates positive momentum.
Chainlink is also in the focus of Santiment
Chainlink (LINK), the 12th largest crypto asset, has experienced a surge in value following significant accumulation by whales. Santiment reported that the top 200 wallets accumulated 40.18 million LINK starting on October 17, increasing the prices of the asset by 125% in 25 days. LINK is currently trading at $14.30.
Bluntz is on the rise for Polygon
In a separate analysis, popular crypto strategist Bluntz expresses bullish sentiments towards Polygon (MATIC), an Ethereum scaling solution. Bluntz points out Polygon’s “seamless vertical accumulation” and predicts a rise to $1, highlighting the potential for new highs. Bitcoin (BTC) is also on Bluntz’s radar, and the strategist expects a rally following the completion of the last leg of the triangle formation. Bitcoin is currently trading at $37,310.
According to Bluntz, Ethereum could experience a significant upward move if it manages to break through a key resistance level that has been around for more than a year. The potential breakout point of Ethereum, which is traded at $ 2,062, is eagerly awaited. Finally, it was emphasized by Solana (SOL) Bluntz that it is ready for a new 2023 peak. Despite concerns of a breakout from the inverse head and shoulders formation, Solana is holding support at around $51. Because it is currently trading at $57.96.
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