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Analysts Issue a Warning for an Altcoin That Surged 1,200%

10.10.2024 16:50 1 min. read Alexander Zdravkov
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Analysts Issue a Warning for an Altcoin That Surged 1,200%

Crypto analytics company Alphractal has issued a warning about altcoin, which has seen a significant increase of over 1,200% in just over a month.

Crypto analytics firm Alphractal has raised concerns about the rapid surge of over 1,200% in altcoin REEF within just over a month. While this spike has been profitable for early investors, the company cautions that the risks have grown, hinting at a potential market correction.

REEF is currently trading well above both its 200-day and 100-day moving averages, which Alphractal sees as a warning sign. The further an asset strays from these averages, the higher the risk of a correction.

Historically, negative shifts in REEF’s long/short ratio have been followed by upward price trends. However, a shift toward long positions now could impact the current market sentiment.

REEF’s volume-to-market capitalization ratio is at 162%, reflecting strong interest in leveraged altcoin trades, and signaling heightened volatility and the potential for a price dip. The funding ratio for REEF has returned to positive territory, but the MACD indicator has turned negative, suggesting a change in market sentiment.

Given these indicators, Alphractal believes REEF may soon enter a pullback phase as it seeks renewed buyer interest.

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.

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