This article will provide tools for alt coins analysis. The tools will cover some of the fundamentals and technical indicators such as wallet movements, adoption by country, season indexes and more. Firstly, the main tools which focus on tokenomics and fundamental events. Near the end, the shift focuses on derivatives, technical analysis and future/options.
You can read more about alt coins price analysis and predictions below:
Altcoin season index
The website helps break down the current season. A score above 75 would indicate we are in full alt coin season. A score at 25 or below would indicate the BTC price is surging. The website is found at Blockchaincenter.net
Increase altcoin positions when this is below 25 and start cycling altcoins into BTC once the index goes above 75.
Choosing the right crypto when they are on the move would be a bit challenging though so, a strategy I’m going for is to cycle my alt coin gains into bitcoins once the time is right.
You can further improve the alt coin tool arsenal with the if you Understand what people are doing in the market. With this tool You can look for all exchanges net inflows most which likely means market dump, miners ( shows miners outflow as well ). Therefore, If miners are moving funds around perhaps they are looking forward to dump. However ,the opposite of the movement would indicate HODLing intent.
Can then look at the interentity flows for exchange to exchange action; this type of movement is common among whales when a better deal can be found on a different exchange.
3. Coinmarketcal – cryptocurrency calendar
Provides all those important events such as AVAX – partnerships with BZA protocol, staking and NFT support is happening real soon. Therefore the research time can be drastically reduced for crypto coin events. At the time of the writing, certain events surged for coins such as COTI , ADA or THETA during 16th – 31st of March 2021. Some of these events included ( but were not limited to ) increasing adoption on certain DEXes, code improvements, etc.
Additionally, the community is driving the feedback. This means if there is any fake event, this either gets flagged or downvoted .
Glassnode is an alt coin and main coin analysis tool which provides different fundamental ratios.
NUPL – net unlrealized profit and loss – how much of the crypto in circulating supply is in profit or loss. Therefore if we have many people with unrealized profit most likely means an euphoria cycle. During this cycle people are in a mania phase where they keep buying, driving the price up. The general rule here is to sell.
However, if we have many people with unrealized loss that most likely means capitulation. Therefore, this would be a good time to buy.
Additionally you can view the number of new and active addresses. In a situation where you see a lot of new addresses, then it means that newbies are jumping in. Part of the crypto market volatility is due to traditionally having inexperienced traders who often trade with emotion as opposed to their counterparts, the NYSE suits and ties.
Finally, Stats will have 24 hr lag time in T1 which is free. For advanced version and more stats ( shorter timeframe) it will cost24.99 USD / month.
Pro version 799/month
5. Coindance – hash rates, ntwork nodes, transactions
Monitor crypto adoption in different countries and region. Local, paxful and bysqful .. Whatever that mean
6. 3commas – for crypto traders
Testing crypto trading strategy based on past data.
Simulating with paper trading, experiment trading skills for TA.
7. BYBT – derivative market analytics ( futures / options / funding rates and longs vs shorts)
Liquidation tab – how many highly leveraged traders have been wrekced from that violent BTC move
Grayscale is tracked here – good to know what institutional money are doing.
Brings all the futures books from ALL exchanges in one location
8. Cryptopanic – crypto news aggregator
9. Messari – aggregator
Trends in the market. Finding the next crypto gem.
Provides screeners as well, you can filter by sectors which is good cus most tools don’t have this.
10. Trading view – forecast, analysis , sentiment , good for TA ( used for stocks as well )