Following Ethereum’s rally above $ 2000 and gaining about 25% in one week, now may be the ideal time to choose altcoins that offer double digit returns this altcoin season. It is likely that the supply of altcoins leaving the exchanges will cause a price rally or a local drop will come. There have been changes in the price trend of the most important altcoins such as DOT, ADA, TRX and UNI, and the most important metrics such as supply and volatility to the exchanges led to the expectation of a price rally next week.
The trading volume for TRX has dropped over 66%, the asset is currently in the purchasing zone according to blockchain analysts. After staying largely below $ 0.096, the price rose above 22% for the first time in a month. This price action has led to a number of parallels being drawn between TRX and ADA. The concentration of ADA by large HODLers is below 25%, and this is the same as TRX. Right now, the ADA’s price rally may have soured on the chart, but according to blockchain analysis, traders are still bullish and there is room for a long rally.
DOT’s trade volume has increased steadily over the past 30 days. Like ADA, the DOT is expected to have an expanded uptrend as the liquidity in the exchanges is higher.
The last update that brought Chainlink’s oracles to Polkadot could be a triggering event for the asset’s price, as it gained 5% in the last 24 hours.
In the case of UNI, the trigger was V3 launch. Hitting a new ATH caused an increase in expectations for a price increase. Currently the price is $ 29.5 and is still in the buy zone like DOT. Although it is about 20% away from ATH, the narrative for DOT and UNI is largely similar. The UNI’s rally was almost over, with market cap and 24-hour price hike falling back to pre-rally levels.
With a trigger event for most altcoins in the top 25, there is anticipation of an Altcoin rally this week. With the ADA and UNI in the buying zone and depending on the price action and net flow in the stock markets, the price rally may have started this weekend.