The CEO of the Analysis Company listed Altcoins with Bearish and Bullish outlooks, highlighting one in particular!

Crypto analysis company Alphractal and its CEO Joao Wedson shared their current technical assessments of the cryptocurrency market. Notably, despite the rising prices of Bitcoin, the expected increase in profit-taking by investors has not been observed.

Alphractal commented on the profit realization rate derived from on-chain data by using the following statements: (SOPR)

"This is a surprising situation. Normally, when prices rise, the profit-taking rate also increases and peaks at each new price level. However, despite the rise in the price of Bitcoin, profit realization is not keeping up. On the contrary, it is in decline. This tells us the following: Investors still see 100 thousand dollars as cheap."

Alphractal CEO Joao Wedson highlighted two important metrics that stand out in technical analysis screens:

"The vast majority of altcoins are still in the bearish zone with the MACD indicator over a 24-hour period. On the other hand, according to the weekly RSI data, some coins are in the overbought zone: TRX, SPX, XMR, GT and even BTC. In contrast, the coin with the lowest RSI in the oversold zone is CTK; followed by Melania."

Wedson particularly drew attention to an altcoin in the market:

“RENDER is in the oversold zone and the increase in the amount of open positions from 5 minutes to 1 hour indicates that whales are taking long positions.

*It is not investment advice.

Follow our Telegram group, Twitter account, and Youtube channel now for exclusive news, analyses, and on-chain data! Also, start tracking live prices immediately by downloading our Android and IOS applications!