Summary
- Recently altcoins have recorded higher gains compared to Bitcoin.
- It stated that currently only 24%% of altcoins listed on Binance are trading above the 200-day moving average.
- It explained that the market is still far from overheating or the arrival of an 'alt season'.
Recently in the virtual asset (cryptocurrency) market, altcoins have recorded much higher gains compared to Bitcoin (BTC), but it has been argued that, based on indicators, it is still difficult to say that an alt season has arrived.
On the 30th (Korean time), virtual asset analyst João Wedson said on X (formerly Twitter), "After analyzing the 200-day moving average (SMA), an indicator that can confirm altcoin sentiment, only 24% of altcoins listed on Binance are currently trading above the 200-day moving average," he said.
He explained, "In past alt seasons and cycle peaks, almost all altcoins traded above the 200-day moving average," adding, "the market is still far from being overheated."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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