After weeks of bearishness and neutral dominance in the cryptocurrency market, the positive atmosphere is increasing. However, some cryptocurrencies are trending mostly due to negative sentiment. Crypto analyst Vinicius Barbosa recommends that investors stay away from trading 2 altcoins next week.
Negative sentiment is dominant on these 2 altcoins, it would be beneficial to stay away!
It is worth noting that the sentiment of the crowd is variable and does not necessarily reflect the internal fundamentals of trending projects. Still, social indicators and public perception can potentially influence the short-term price movement of a cryptocurrency. Staying away from trading certain cryptocurrencies that are trending for the wrong reasons helps investors have a solid risk management strategy. In this context, we took a look at Santiment’s trending altcoin data. Notcoin (NOT) and Toncoin (TON) lead the top 10 with a dominant negative sentiment.
Trading with Notcoin (NOT) and Toncoin (TON) is risky
Santiment’s social index, in particular, points to bearish momentum for Notcoin as users report withdrawal issues to Binance and TON wallet. Santiment’s AI summary reports as follows:
Crypto project Notcoin seems to be facing some negative sentiment on social media platforms. Users express frustration as they cannot receive their Notcoins, experience significant drops in their balances, and encounter problems with exchanges.
In contrast, NOT stood out with its successful cash outflow, trading opportunities, and crypto exchange listings. Notcoin was born as a reward token for a Telegram game designed to engage users in The Open Network (TON). The initial negative experience also affected the market’s overall perception of Toncoin, Blockchain’s native token. Santiment’s assessment of TON is as follows:
The main reasons for the decline of the TON project include concerns about the functionality and reliability of the TON wallet, with users reporting problems with deposits, withdrawals and transfers.
TON price analysis
On the other hand, Toncoin has shown remarkable performance in 2024. So, it’s up 184% year-to-date, now at $6.67. The Open Network has successfully attracted investors and developers for its ecosystem. Thus, it showed that it has solid long-term fundamentals. Moreover, technical indicators present a positive picture for the altcoin price. The altcoin is trading above its 30-day exponential moving average (30-EMA). Additionally, the relative strength index (RSI) indicates strong momentum.
Therefore, the “avoid trading” warning also applies to short sellers trying to profit from TON’s current troubles, as the digital asset may still perform despite recent events.
The opinions and predictions in the article belong to the analyst and are definitely not investment advice. cryptokoin.com We strongly recommend that you do your own research before investing.
To be informed about the latest developments, follow us twitter‘in, Facebookin and InstagramFollow on and Telegram And YouTube Join our channel!