• According to market intelligence platform Santiment, cryptocurrency assets are divided into extreme overbought and overbought categories due to the wide range of price performance.
  • The price outlook for OMG Network (OMG), Serum (SRM) and Vidt DAO (VIDT) suggests they are the least bought.
  • On the other hand, Render (RNDR), Injective Protocol (INJ) and Bella Protocol (BEL) are extremely overbought.

Cryptocurrency prices were very volatile in April, with many coins showing significant gains before slumping to pre-rally levels amid massive selling. suggests they are in extremely overbought territory, but some remain significantly underbought.

Render (RNDR), Injective Protocol (INJ) and Bella Protocol (BEL) are all overbought. OMG Network (OMG), Serum (SRM) and Vidt DAO (VIDT) fall into the latter category.

Crypto Price Prediction for OMG, SRM and INJ

Bitcoin (BTC) price bounced back above $29,000 on Friday and is trending with positive sentiment as bulls eye a good start to a historically slow May, but Ana The list says a move above the critical support of $28,200 at the end of April will be a key move.

On the other hand, some altcoin trading patterns suggest that this is a good buy moment.

But as the global cryptocurrency market cap shrinks from recent highs to $1.25 trillion, some of the skyrocketing altcoins are vastly overbought. These tokens, including RNDR, INJ, and BEL, can be very risky, Santiment explained Friday.

Prices here in April are more spread out and less correlated with each other than in previous months. Our MVRV model also suggests that average trading returns are historically good times to buy for some ($OMG, $SRM, $VIDT) and others ($BEL, $INJ, $ RNDR) is very high risk.

The MVRV (Market Value to Realized Value) model shows the ratio of a token’s market capitalization to its realized market capitalization.

As a comparison of two measures, market capitalization and realized cap, the MVRV ratio is often used to emphasize the price of an asset and its deemed fair value. Being above or below this “fair value” price helps traders assess the token’s profitability potential.

By Jules

Leave a Reply