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Experts of the company Santiment found assets that are in an extreme degree of oversold and are ready for impulse growth.
The material is not an investment recommendation and is published for informational purposes only.
With the help of a special metric, the analytical company Santiment identified three altcoins with a high capitulation rate, which indicates the extreme oversold oversold nature of the asset and its sale by investors at a loss. Analysts pointed out that at the end of May, the highest percentage of sales at a loss is observed for three altcoins – Maker (MKR), Serum (SRM) and Binance Coin (BNB).
Despite the fact that the price of the coin fell below $ 1300 after rising above $ 1600, there were no signs of profit taking. This signals that MKR is in an extreme phase of oversold, analysts say. As of May 26, Maker is trading at $1266 (according to Binance).
Maker is the management token of MakerDAO, an Ethereum-based smart contract platform. MKR grants the right to holders to take an active part in the development of the project.
The SRM’s profit-loss ratio of alcoin is beginning to indicate surrender, Santiment said. This is the fifth week in a row when investors get rid of an asset at a loss. Such indicators are a good sign for opening positions, analysts say. As of May 26, the SRM token is trading at $1.09.
Serum is a native token of the decentralized exchange SerumDEX, built on the basis of the Solana blockchain (SOL).
Binance Coin (BNB)
As with the SRM token, for the fifth week in a row, more loss transactions are made on BNB than profit transactions, Santiment explained. Due to the lack of signs of profit taking, analysts claim that Binance Coin still has high potential for growth in the near future. As of May 26, BNB is trading at $313.
Binance Coin is a native token of the world’s largest crypto exchange Binance in terms of trading volumes.
Earlier, analyst Michael van de Poppe made several forecasts for altcoin rates in May. At the beginning of the month, he called the tokens Cardano (ADA), Chainlink (LINK), Curve DAO (CRV), SKALE (SKL) and VeChain (VET) the most profitable in terms of risk-reward ratio.
Then, on May 16, van de Poppe came to the conclusion that the rates of altcoins LINK, VET and Verasity (VRA) in the near future could grow. On May 20, the cryptanalyst supplemented the list with promising low-cap altcoins, which included Polygon (MATIC), Zilliqa (ZIL) and XCAD Network (XCAD).
On May 22, van de Poppe spoke about the likelihood of growth in the rates of three altcoins – LINK, Decentraland (MANA) and THORChain (RUNE) – and urged to buy assets as soon as possible.
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