Please wait for this before re-entering Cardano or Chainlink

Please wait for this before re-entering Cardano or Chainlink

Altcoin and its price fluctuations are expected to follow Bitcoin forever. But for some reason, despite weak market clues and bearish Bitcoin movements, some altcoins seem to be showing their own path. However, the two major altcoins are quietly preparing for major trend changes in the chart. So is this the perfect moment to buy them? These metrics will help you understand it.

Are these altcoins trying to flip?

It’s not surprising that Cardano and Chainlink were the first to flips. For a long time, the next Goguen release of Cardano’s smart contracts has stopped everyone. Meanwhile, Chainlink has been successful in adding over 1.4 new partners daily since the beginning of 2021. This shows that people have already been bullish for some time.

To prove the above forecast, look at the ratio of network value to transaction (NVT). Extreme deviations can be observed on both the Cardano chart and the chain link chart. Such deviations are usually seen as a signal of a trend reversal in favor of bullish momentum.

Deviation of NVT ratio between Cardano and chain link | Source: CoinMetrics – AMB Crypto

In addition, it has been observed that on-chain development of both networks is consistently strong. It has risen over the past few weeks and insists on a bullish reversal in the future. In addition, coins have noticed a slight increase in recent volumes, despite minimal market movement. If the price of these altcoins rises, these numbers will definitely explode.

Rising development activities of ADA and LINK | Source: Santiment

ADA and LINK volumes | Source: Santiment

When should i buy

According to popular analyst Michael Van De Poppe, ADA is currently stuck in the integration phase. Currently, $ 1- $ 1.14 remains a significant support for setting a critical breaker to $ 1.31. Historically, $ 1.48 was important in understanding the trend. Because price behavior is testing this range and is a strong resistance on the chart.

Chainlinks have also dropped highs, denying previous levels of support. 49ksats are needed to regain the lost bullish momentum and take advantage of the indicators mentioned above.

Previously, it was below the moving average for the first time this year.Another MA cross is a kick link [LINK/BTC] needs. Such pushes can push LINK from 60k to 74ksats.

Therefore, it is advisable to refrain from investing as long as the market continues to create low lows on the chart until the trend is imminent. If that happens, feel free to join us. However, be careful about DYOR.

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