Analysts from cryptocurrency analysis company Santiment shared some altcoins that they claim have a bullish outlook, taking into account recent market movements.
In MVRV value, which is the metric used by analysts, the lower the MVRV value of a cryptocurrency, the more likely it is to make a short-term jump, according to Santiment.
MVRV (Market Value – Realized Value) ratio is a metric used in the analysis of cryptocurrencies. It represents the ratio between the market value and realized value of a crypto asset.
Market cap is the current price of the asset, while realized value is a measure of the cryptocurrency's true value based on the prices it has previously traded at.
According to analysts, the cryptocurrencies whose MVRV value appears to be in favor of the bulls are as follows:
Bitcoin: -4.0% (slightly bullish)
Ethereum: -4.3% (slightly bullish)
XRP: -3.5% (slightly bullish)
Dogecoin: -16.7% (strong bull)
Toncoin: -0.6% (neutral)
Cardano: -12.6% (strong bull)
A higher MVRV ratio indicates that the current market value of the asset significantly exceeds the average acquisition cost of each address holding the asset.
*This is not investment advice.