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Solana (SOL), Tron (TRX) and Binance Coin (BNB) are all bearish, which could indicate an imminent bottom, according to crypto analytics platform Santiment.
according to santimentostrong bearish sentiment can be a signal of an imminent price rise.
We are currently in a situation where some cryptocurrencies have increased optimism while others are being removed as dead. Remember that the more positive the crowd is about an asset, the less likely it is to go up. Become. ”
Solana, a blockchain platform for hosting decentralized applications, faces a lot of fear, uncertainty and doubt (FUD), according to Santiment.
Solana has fallen significantly from its high of $258.93 a year ago, so it has not been appreciated at all recently. Negative sentiment towards SOL has returned to its lowest point This is the level since late July and there is not much price reaction yet. But having this much FUD can be seen as a positive sign. “
According to Santiment, BNB, the native coin of the Binance cryptocurrency exchange, is on an upward trend after experiencing a record high of bearish sentiment last week and yesterday’s hack of the Binance smart chain.
Binances native token, like Solana, also showed the most negative sentiment last week. Not surprisingly, prices have risen since then.
Santiment also said the price of TRX, a blockchain project originally designed to serve as a decentralized storage and distribution platform for social media and digital entertainment content, could rise.
Tron’s price action has been something of a roller coaster since it crashed in mid-June. Keep an eye on it, if the highly negative sentiment reappears, we might see a similar pattern.
At the time of writing, SOL is trading at $33, BNB at $281.63 and TRX at $0.062.
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Featured Image: Shutterstock/Jozef Klopacka
