History Says Buy Altcoins, Headlines Say Wait? Market Narrates Two Stories
- A chart shows potentially favorable phase for altcoin DCA strategy
- The 30-day moving average of altcoin prices has fallen below the annual average
- The market remains very unpredictable with the current trade war between USA and China
Now might be a good time to start accumulating altcoins, some traders are saying. CryptoQuant shared a chart earlier today looking at altcoin trading volume (vs stablecoins), possibly showing the market entering a period well-suited for Dollar-Cost Averaging (DCA) plans.
And according to analyst Darkfos, the 30-day moving average of altcoin prices has fallen below the annual average. This pattern was last observed in September 2023, before a large market rally.
What Does This Signal Suggest for Dollar-Cost Averaging (DCA) Altcoins?
The technical indicator implies that altcoins are priced low compared to their longer trends, hinting at a potential entry spot for buyers. DCA involves investing set amounts regularly, whatever the price, often used to lessen risks from market swings. Such market periods can last weeks or months.
However, this is all well and done, but the broader market context remains a complicated matter.…
The post History Says Buy Altcoins, Headlines Say Wait? Market Narrates Two Stories appeared first on Coin Edition.
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History Says Buy Altcoins, Headlines Say Wait? Market Narrates Two Stories
- A chart shows potentially favorable phase for altcoin DCA strategy
- The 30-day moving average of altcoin prices has fallen below the annual average
- The market remains very unpredictable with the current trade war between USA and China
Now might be a good time to start accumulating altcoins, some traders are saying. CryptoQuant shared a chart earlier today looking at altcoin trading volume (vs stablecoins), possibly showing the market entering a period well-suited for Dollar-Cost Averaging (DCA) plans.
And according to analyst Darkfos, the 30-day moving average of altcoin prices has fallen below the annual average. This pattern was last observed in September 2023, before a large market rally.
What Does This Signal Suggest for Dollar-Cost Averaging (DCA) Altcoins?
The technical indicator implies that altcoins are priced low compared to their longer trends, hinting at a potential entry spot for buyers. DCA involves investing set amounts regularly, whatever the price, often used to lessen risks from market swings. Such market periods can last weeks or months.
However, this is all well and done, but the broader market context remains a complicated matter.…
The post History Says Buy Altcoins, Headlines Say Wait? Market Narrates Two Stories appeared first on Coin Edition.
Read More