Altcoins Now in the “Opportunity Zone,” Key Altcoins to Buy on a Dip

Over the past week, altcoins including Ethereum (ETH) have seen a more pronounced correction. THE Ether Price (ETH) fell more than 22%, reflecting the broader market correction. Despite the prevailing bearish sentiment, on-chain data and market analysts suggest this could be an opportune time to consider buying.

Altcoins in the Opportunity Zone

In light of Bitcoin’s recent decline to a two-week low of $61.7K on Tuesday, insights from on-chain data provider Santiment highlight potential opportunities in the cryptocurrency market. According to Santiment’s MVRV Opportunity & Danger Zone Model, several altcoins have reached a favorable trading zone in the medium term.

This zone, considered an “opportunity zone,” is crossed when an asset’s average portfolio returns over 30, 90, and 365 days collectively enter negative territory. For traders looking to capitalize on current market conditions, Santiment identifies notable candidates in this opportunity zone.

Among these are BOUNCE ($BOUNCE), Lido ($LDO), OmiseGO ($OMG), Storj ($STORJ) and Synthetix ($SNX), offering potential prospects for strategic investment in the fluctuating market landscape, reports Santiment.

Courtesy: Feeling

Polygon, Chainlink and Arbitrum on the radar

Renowned crypto analyst Ali Martinez draws attention to the remarkable accuracy of the TD Sequential indicator in predicting Polygon ($MATIC) price movements since mid-February. Analyzing the 4-hour chart data, Martinez highlights the indicator’s consistency in providing accurate forecasts.

Currently, the TD Sequential indicator is signaling a buying opportunity for $MATIC, hinting at a potential rebound from the $0.92 support level. This development suggests a favorable outlook for Polygon ($MATIC), potentially paving the way for a resurgence in its stock performance.

Courtesy: Ali Martinez

Renowned crypto analyst Michael van de Poppe identifies a substantial opportunity for investors to capitalize on discounted prices. Citing a general rule, he recommends considering investments in altcoins traded at discounts ranging from 25% to 60% during bull cycles.

One such altcoin highlighted by van de Poppe is Arbitration (ARB), which is currently at a considerable discount and showing signs of preparing for a new upward trend. After yesterday’s 25% correction, ARB price has already rebounded 5% earlier today, returning to $1.66.

Chainlink is another popular altcoin that Poppe is bullish on. The LINK/BTC pair shows a good setup for a major breakout and major breakthrough.

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Bhushan is passionate about FinTech and has a good flair for understanding financial markets. His interest in economics and finance draws his attention to the new emerging markets of Blockchain technology and cryptocurrencies. He is continually learning and remains motivated by sharing his acquired knowledge. In his free time, he reads thriller novels and sometimes explores his culinary skills.

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.

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