Altcoins
Santiment Reveals the Top Two Altcoins to Buy This Week
Things haven’t been easy for crypto fans lately. After a turbulent period that left many investors feeling uneasy, the market appears to be shifting gears. Bullish sentiment is back in control, fueled by a 65% surge in the Bitcoin Fear and Greed Index.
Is the situation finally stabilizing?
Read on to find out the latest market trends and what they could mean for your cryptocurrency holdings.
Tether’s Billion Dollar Move
Earlier today, one of the major stablecoin issuers Attached generated 1 billion USDT on the Tron network, increasing overall buying pressure. On-chain data shows that long-term crypto holders have accelerated their accumulation pace in recent years.
For example, US spot BTC ETFs have seen over $1.5 billion in inflows in the past two weeks. On-chain activity for the altcoin industry has increased significantly amid reports of next week’s listing Spot Ether ETF in the USA.
Altcoins to Watch This Week
What’s going on with XRP?
Amid the anticipated settlement between the US SEC and Ripple Labs in the ongoing lawsuit, speculations around XRP’s price action have increased significantly. According to Santiment’s on-chain data analysis, Ripple-backed XRP has seen a notable increase in FOMO, with its underlying value surging by over 20% in the last five days.
At the time of publication, XRP was trading around 54 cents, with a market dominance of around 1.33%. From a technical perspective, XRP needs to reclaim the 50 and 200 moving averages (MAs) as support levels to ensure a rally towards the next range between 58 and 60 cents.
Litecoin rides the wave
The price of Litecoin (LTC) has surged more than 20% over the past two weeks to trade above $71 on Tuesday, fueled by increased on-chain whale activity and rising FOMO among traders.
Like XRP, Litecoin Price must close above the 50 and 200 weekly moving averages (MAs) to invalidate the bearish sentiment of the past four months.
Read also : Here’s Why Breaking Above $65,000 Could Be an Uphill Battle for Bitcoin (BTC) Price Rally
Are you ready to dive back into the cryptocurrency game or are you still waiting on the sidelines?