These 8 Altcoins Are In The Great Opportunity Zone! –

According to the analytics platform Santiment, 8 altcoins, including XRP, ADA and SHIB, may have approached the opportunity zone. Analysts expect these cryptos to quickly recoup 2022 losses from their current levels.

Santiment says recovery is imminent for these 8 altcoins

The analytics platform talked about the altcoin market’s MVRV Z score in a new tweet today. This metric is typically used to determine whether a cryptocurrency is significantly overvalued or undervalued. It is calculated by subtracting the actual value representing the current price of a crypto from its current market value and dividing the result by the Z-score, which is the calculated difference between the two values.

In the chart he provided, Santiment writes that current data shows that 8 altcoins can easily make up for price drops in 2022.

According to Santiment analysts, altcoin projects that offer an opportunity to recover in the MVRV Z metric are as follows:

  1. Ethereum (ETH)
  2. XRP
  3. Cardano (ADA)
  4. Polygon (MATIC)
  5. Shiba Inu (SHIB)
  6. Uniswap (UNI)
  7. Chainlink (LINK)

How close are cryptos to fulfilling expectations?

Note that XRP’s Santiment was the crypto pick of the month in January. The XRP choice was given because of the positive price action and increased whale accumulation activity. XRP in particular has gained more than 14% from its opening price in 2023. After an impressive rally on Friday, the 4-hour chart shows that the price failed to break the highs around $0.40. XRP bulls are currently looking to see this resistance turn into support.

Cardano (ADA)

Santiment has previously mentioned that the ADA is undervalued. The analytics platform shared an analysis stating that Cardano was low in December. In this process, ADA further strengthened expectations when it crossed the $0.30 price level earlier this month. It has also gained at least 28 new whales since the end of December.

Like XRP, the ADA price completed a rally to $0.37 last Friday. After this run, however, the price consolidated on the 4-hour chart and gained momentum on the downside. With the price testing the bottom of the range once again, we could see some short-term bearish momentum if it encounters resistance.

Shiba Inu (SHIB)

The popular meme token saw a dramatic price increase on the 4-hour chart on Wednesday, gaining 22% instantly. This week, Upbit listed Shiba against the Korean Won, and Cointree, one of Australia’s largest crypto exchanges, announced its decision to list it. Also, talk about the upcoming Shibarium beta launch is getting SHIB investors excited. We have included the details in this article.

After Wednesday’s price surge, SHIB remained in an uptrend on the 4-hour chart and refused to find support at the $0.00001110 price level. The bulls can now barricade hard at $0.00001139 to prevent the price from falling.

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