A renowned analyst recently shared two cryptocurrencies that could be good options and have a chance of recording good returns for investors. Ali Martinez, a cryptocurrency expert, analyzed the current movement of the Chainlink (LINK) and VeChain (VET) tokens in light of the recent market drop, highlighting that crypto assets could see a rise in prices.
The analyst noted that the VET cryptocurrency may be reflecting its price movements recorded between June to December 2020, suggesting a possible upward trajectory on the horizon for the token.
“VeChain appears to reflect its price movements from June to December 2020. If this pattern holds, $VET could return to the channel's upper boundary at $0,032, potentially setting the stage for a continued bull run!” he wrote .
#VeChain seems to mirror its price movements from June to December 2020. If this pattern holds, $ VET might pull back to the channel's upper boundary at $0.032, potentially setting the stage for a continued bull run! pic.twitter.com/PVkpJZXW34
— Ali (@ali_charts) April 16, 2024
At the time of publication, the price of VeChain (VET) was quoted at US$0,03845, down 0.8% in the last 24 hours. The trading volume in the last 24 hours is $94.611.784.
Regarding the movement of LINK, the expert suggested to investors that the cryptocurrency may be close to presenting another chance to buy the dip in the token.
“Every time Chainlink’s 30-day MVRV ratio has dropped below -12,24% since August 2022, it has signaled an excellent buying opportunity, with an average return of 50%! Currently, $LINK MVRV’s 30-day ratio is -17,54%. This could be another chance to buy the LINK dip!” highlighted.
At the time of publication, Chainlink (LINK) price was priced at $0,6735, down 2.7% in the last 24 hours. In its weekly development, the cryptocurrency has seen a drop of 23.5% in the last seven days.
Four cryptocurrencies trade up more than 10% today amid market slowdown
Amid the market slowdown, four cryptocurrencies are emerging on the rise today, April 17th, trading with profits exceeding 10% in the last 24 hours. Interestingly, all four cryptocurrencies are memecoins, highlighting the quite remarkable development of this type of crypto asset amid significant growth and greater investor adoption in recent months.
Given this scenario, the meme cryptocurrencies that are emerging today are: Jeo Boden (BODEN), PUPS, Degen (DEGEN) and MAGA TRUMP. Memecoins are attracting attention for being one of the few traded in the green, on April 17th.
