Today, bitcoin (BTC), Ethereum (ETH), and most of the broader crypto market traded dramatically lower, with leveraged long position liquidations. The crash occurs when the market anticipates yet another high level of US inflation.
Amid all the uncertainty seven altcoins have been listed by a leading crypto analytics organization as being badly oversold at the moment.
Fantom (FTM), Curve DAO Token (CRV), 1inch (1INCH), Enjin (ENJ), Chiliz (CHZ), Loopring (LRC), and Skale (SKL) are all in a “historically excellent purchase zone,” according to Santiment.
Also Read : Here’s Why Bitcoin (BTC) Price Might Drop To This Level In Coming Days!
Altcoin Prices to Decline Further?
According to Santiment, as cryptocurrency prices continue to fluctuate, altcoins have taken quite diverse trajectories and produced very varied results based on average trader returns. We’re viewing the vast majority of altcoins as oversold using different periods on results, while some further fall is highly possible.
Fantom (FTM), a scalable smart contract-enabled blockchain, Loopring (LPC), Chiliz (CHZ), a fan-engagement tokens platform, and Enjin Coin (ENJ), a platform used to back the value of non-fungible tokens (NFTs), are all down between 60% and 80% from their all-time highs.
Layer-2 scaling solution for decentralized exchange aggregator 1inch (1INCH). Skale (SKL) and Curve DAO Token (CRV), two decentralized finance (DeFi) platforms built for stablecoin trading, have dropped between 84 and 96 percent from all-time highs.
The analytical platform also tweeted that following a crypto market bounce that pushed Bitcoin above $39,000, the “notable gainers” are privacy coins Monero (XMR) and Zcash (ZEC) as well as file-storage protocol Aweave (AR) and micropayments network Toncoin (TON).
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Source: https://coinpedia.org/altcoin/7-altcoins-flashing-excellent-purchase-zone/