According to this indicator, the biggest buying opportunity is in these eight altcoins!

With the sharp declines in Bitcoin and altcoins, low levels not seen for months were seen. While BTC falls below $54,000, the decline in altcoins reaches double digits.

While investors were wondering whether the declines were over, Santiment stated that Bitcoin, Ethereum and seven altcoins were close to the bottom according to the MVRV ratio, offering a buying opportunity.

Using the MVRV ratio in this analysis, Santiment shared the altcoins with the lowest 30-day MVRV.

According to Santiment, the lower a token’s 30-day MVRV, the less risk of loss investors have if they buy. In other words, when buying altcoins with low MVRV ratio, even if the price drops, the amount of loss will be less as the bottom is closer.

Accordingly, Santiment listed the tokens that currently have a low 30-day MVRV rate and offer a buying opportunity as follows: Dogecoin (DOGE), Uniswap (UNI), Litecoin (LTC), Ethereum (ETH), Chainlink (LINK), XRP, Cardano (ADA). , Bitcoin (BTC) and Toncoin (TON).

“The lower a coin’s 30-day MVRV, the less risk there is of making new purchases or adding to a position.

The tokens that currently offer the most buying potential from lowest to lowest are:

DOGE: -19.7% UNI: -16.3% LTC: -15.0% ETH: -13.2% LINK: -11.1% XRP: -10.1% ADA: -9.9% BTC : -9 0.6% Tone: +4.0%”

📊 The lower a coin’s 30-day MVRV is, the less risk there is in opening or adding on to your position for a shorter term timeframe.

In order of the trackable top caps seeing the least to most risk of dip buy potential right now:

DOGE: -19.7% 🥇
UNI: -16.3% 🥈
LTC: -15.0% 🥉… pic.twitter.com/2TGDXuhpas

— Santiment (@santimentfeed) July 5, 2024

What is MVRV Ratio?

In a sense, the MVRV rate offers investors a buying opportunity before the potential rise. At this point, if an altcoin’s MVRV ratio is low, it can generally be interpreted as a potential buying opportunity, while if its MVRV ratio is high, it may indicate that the price is overvalued.

In MVRV ratio analysis, according to Santiment, the lower the MVRV value of a cryptocurrency, the more likely it is to make a short-term jump.

Although this indicator signals a buying opportunity, do not make your investment decisions based on a single data or signal. These indicators are helpful data that have a margin of error and have never been proven to be 100% accurate.

Make your investment decisions based on your own research.

*This is not investment advice.

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