Last week, the over 22% correction in the Ethereum (ETH) price altcoin It triggered a harsher correction process in the market. Although the market is currently in a bearish trend, on-chain data and market analysts’ opinions indicate that this could be a good time to buy.
Bitcoin’s decline to $61,700 on Tuesday reveals potential opportunities in the crypto market, according to Santiment’s analysis. According to Santiment’s MVRV Opportunity and Danger Zone Model, many altcoins have reached a favorable medium-term trading zone.
This “opportunity zone” is when an asset’s 30-day, 90-day, and 365-day average wallet returns collectively enter negative territory. Santiment identifies notable candidates in this opportunity zone for investors who want to benefit from current market conditions. Among these, altcoins such as BOUNCE, Lido, OmiseGO, Storj and Synthetix offer strategic investment opportunities in volatile market conditions.
As we reported as Koinfinans.com, Ali Martinez emphasizes that the TD Sequential indicator shows significant accuracy when predicting Polygon price movements. Currently, the indicator is signaling a buying opportunity for $MATIC, pointing to a potential recovery from the $0.92 support level. This development paints a positive picture for Polygon and a revival in market performance is expected.
Crypto analyst Michael van de Poppe says there is a significant opportunity for investors to benefit from low prices states. As a general rule of thumb, he recommends investing in altcoins that see discounts of 25% to 60% during bull cycles. One such altcoin stands out as Arbitrum (ARB), which is currently offering a significant discount and is ready for a new uptrend. Following yesterday’s 25% correction, the ARB price rose 5% to $1.66 earlier today.
#Chainlink At these price levels in their BTC pair is just a great opportunity.
Very happy to be purchasing some today on this one. pic.twitter.com/rjjn7HYoSO
— Michaël van de Poppe (@CryptoMichNL) March 19, 2024
Another popular altcoin that Van de Poppe drew attention to is Chainlink. The LINK/BTC pair is a good setup for a major breakout and future volatility.
