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Analytics Firm Shares 4 Altcoins It Favors Bullish in the Short Term

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.
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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.
Continue Reading: Analytics Firm Shares 4 Altcoins It Favors Bullish in the Short Term

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