HomeCoinsEthereumOne Prime-30 Ethereum-Based mostly Altcoin Signaling a Potential Rally, Says Crypto Analytics...

One Prime-30 Ethereum-Based mostly Altcoin Signaling a Potential Rally, Says Crypto Analytics Agency – However There’s a Catch

A blue-chip Ethereum (ETH)-based altcoin is displaying indicators of a possible rally, in response to the crypto analytics platform Santiment.

Per Santiment, numerous metrics are signaling that the native token of the blockchain oracle Chainlink (LINK) might surge, although the prediction depends on the conduct of Bitcoin (BTC) and the broader crypto market.

“Chainlink has hit a key level that has historically foreshadowed a price rebound. Presuming Bitcoin and the overall crypto sector stays relatively stable, LINK’s drop in exchange supply (currently just 15.5%) is hinting at a bullish divergence.”

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Supply: Santiment/X

LINK is buying and selling at $6.00 at time of writing.

Turning to the governance token of the decentralized finance (DeFi) protocol Maker (MKR), Santiment says that whales and sharks have collected over $71 million price of the crypto asset since July ninth.

“Maker has enjoyed a nice +12% day while the rest of crypto slumps. This can largely be attributed to the accumulation by the whales and sharks holding between $11,600 to $11.6 million [in] MKR. Their holdings will continue to correlate with future price movement.”

Image
Supply: Santiment/X

MKR is buying and selling at $1,155 at time of writing.

On Bitcoin Money (BCH), Santiment says,

“Bitcoin Cash enjoyed a healthy price rebound, currently back at $214 after being as low as $180 just two weeks ago. Short and long-term traders are both in profit for the first time since mid-June, and whales will be key to a further surge.”

Image
Supply: Santiment/X

BCH is buying and selling at $206 at time of writing.

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Featured Picture: Shutterstock/Tithi Luadthong

Supply: https://dailyhodl.com/2023/09/02/one-top-30-ethereum-based-altcoin-signaling-a-potential-rally-says-crypto-analytics-firm-but-theres-a-catch/

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