Alphraactal’s cryptocurrency analytics published a new Altcoin market analysis. According to the company, Ray has the highest long/short ratio among all altcoins.
After Ray, GTC, COS, DOT, Alpha, Melania, Audio and Rez are among other altcoins, where long positions are above shorts.
The alpractal team noted that excessively high long/short ratios, as a rule, negatively affect the productivity of altcoin, but can also sometimes cause prices. According to the company, this can create a short compression dynamics, and traders close long positions and open short positions when prices begin to grow again.
Nevertheless, it was emphasized that this script requires an increase in the volume of an open interest. Alfractal predicts that at present there is no significant increase in open interests in altcoins, so prices can move to the side in the coming days.
On the other hand, the general director of Alphraactal Joao Wedson announced that an important signal reappeared from the bitcoins. Wedson said that the Bitcoins/Stublek reserve coefficient again gave a signal in the range of $ 76,000–77,000, recalling that this level predicted the main rallies of bitcoins in the past. Wedson used the following statements in his statement:
“Such behavior suggests that Stablecoin reserves are growing faster than bitcoins reserves, which suggests that in 2020 there are sufficient capital, preparing for crypto -aciates. The same signal appeared after Coronadump in 2020, at the end of 2022, and now again. In all these cases, the price of Bitcoin reacted positively. ”
*This is not an investment council.
