The total market has dropped by a similar amount, losing $1.5 trillion in just two months. It has sparked predictions of a ‘Crypto Winter,’ akin to those observed after the bull markets of 2013 and 2017.
Although analysts are split on which way the market will go from here, Ethereum (ETH), Cardano (ADA), Binance Coin (BNB), and Ripple (XRP) have all failed to rebound from the drop as of yet.
However, the demand for Ethereum and three other altcoins is robust, according to an autonomous bot that has been beating the crypto market by leveraging data from weekly trader polls.
Ethereum and Polygon
According to the latest poll results, while Ethereum (ETH), the most popular smart contract platform, remains popular with investors at 64 percent overweight compared to the bot, layer-2 scaling solution Polygon (MATIC) has grown to the same level.
Ethereum and Polygon are trading at $2,458(up 2%), $1.56(up 5.3%) respectively.
LUNA
Terra (LUNA), a decentralised finance protocol, is only a single percentage point behind in third place with 63 percent.
At press time, LUNA is trading at $64.37 down by 2.7% in the last 24 hours. The resistance on tbe upside is at $69 and the support is at $62.
Bitcoin
Despite the difficult ride it’s been on since hitting an all-time high in November, Bitcoin (BTC) is in fourth place, with 62 percent of respondents preferring to overweight their holdings with BTC.
At the time of writing, BTC is trading at $36,855 up by 1.2%. The resistance is at $38K and the support is at $35K.
Solana
Solana (SOL), a smart contract platform and ETH rival, rounds out the top-5 crypto assets with a 48 percent share.
At the time of writing, SOL is trading at $95.26 up by 4.8% in the last 24 hours. The resistance is at $100 and the support is at $87.
ATOM , AVAX, FTM and DOT
Cosmos (ATOM), an interoperable blockchain ecosystem, came in sixth place, followed by Avalanche (AVAX), a layer-1 smart contract platform, and Fantom, an enterprise-grade blockchain platform (FTM).
Polkadot (DOT), a cross-chain interoperability protocol, and Chainlink(LINK), a decentralised oracle network, round out the top ten.
DOT is trading at $18.67 up by 5.2% in the last 24 hours. The resistance is at $19 and the support is at $17.4.
Mortiz Seibert, a quant analyst and hedge fund CEO, co-created the Real Vision Bot as a tool to get alerts and evaluate trader sentiment from consumers of the financial information platform Real Vision.
The bot has a ‘astonishing’ track record, according to Real Vision, surpassing the aggregated bucket of top 20 cryptos by more than 20% solely by surveying trader preferences.
Source: https://coinpedia.org/altcoin/crypto-market-show-signs-of-recovery-eth-matic-btc-luna-and-sol-see-robust-demand/