Analysts have drawn attention to cryptocurrencies whose value is growing after correction

Analytical firm Santiment has emphasized that most altcoins are ready to ignite a rally after a month-long cryptocurrency correction. According to experts, the prolonged market decline has forced many altcoin traders to unload their holdings and suffer significant losses.

«According to our model, the average long-term gains and losses of the average wallet indicate large realized losses for most altcoins. More than 85% of the assets we track are in the historical opportunity zone when calculating the market value to realized value (MVRV) ratio of collective wallet returns over monthly, three-month, and six-month cycles.»

MVRV is an intra-chain indicator used to assess whether a cryptocurrency is undervalued or overvalued.

Since the MVRV for most altcoins has been hovering in areas of best opportunity for several time frames, the analyst firm argues that altcoins could be in a «historic position» to witness a rally.

«Buying could be justified as long as there is a growing fear seeping out of the crowd after all these market capitalization drops.»

Amid preparations for a potential rally, analysts noted that traders are beginning to ignore volatile altcoins such as Dogecoin (DOGE) in favor of crypto assets that hold up well in volatile environments.