It’s been revealed that Polkadot and two more altcoins are flashing bullish signals. Check out the latest reports about the digital assets below.
New crypto reports are outAn important crypto analytics firm says that a trio of altcoins, including Polkadot (DOT) is flashing a bullish signal as traders turn extremely bearish on crypto.
Santiment revealed that traders are betting heavily on the sustained plummet of interoperability protocol Polkadot, payments network Stellar (XLM), and privacy-focused altcoin Monero (XMR).
“As the weekend has kicked off, traders are betting against several altcoins to profit on their downfalls. Polkadot, Monero and Stellar all have large short positions on exchanges. Typically, this increases liquidation and price rise likelihoods.”
At the time of writing, DOT is changing hands for $5.29, XLM for $0.08, and XMR for $150.01. All three altcoins are flat on the day.
According to the analytics firm, traders are massively shorting the three altcoins. This is happening just as market participants are showing notable signs of capitulation and negativity.
“Mentions of dead and deadcoin jumped to all-time high levels in late November, and still are high historically. This traditionally increases the probability of a crypto price bottom.”
According to a new post revealed by the online publication the Daily Hodl, Vays is expecting bullish continuation in the short term for Bitcoin.
He explained that the rally would likely push Bitcoin to a major resistance level, which could trigger the next sell-off event.
“That gets us to the underside of the prior channel, which is major and monster resistance, especially if it comes in contact with the 128-day moving average. So I am looking for this bounce to probably continue to year-end, and then everyone is going to be super bullish in the beginning of the year, and then there is a high probability of one more capitulation down.
The post Polkadot and Two Altcoins Flash Bullish Signal first appeared on CryptoGazette - Cryptocurrency News.
