The post AUCTION’s price up by +140% in a week – Altcoin will hit a new ATH by… appeared on BitcoinEthereumNews.com.

AUCTION could rally to $76 and $93 next On-chain metrics revealed that the token flashed distribution trends Bounce [AUCTION] has rallied by 140.89% since last Saturday. At the time of writing, the token was trading at $60.3, with its 24-hour trading volume remarkably high too. In fact, CoinMarketCap’s data revealed that the daily volume was $1.33 billion. With a market cap of just $395.84 million, the volume to mcap ratio stood at 335%. This seemed to be extraordinarily bullish – In the short term. The price was just under 17% away from its all-time high at $70.44 too. Hence, the question – Should holders take profits now, or wait for more gains? Greed and FOMO should not take the upper hand now Source: AUCTION/USDT on TradingView The 1-day price chart revealed that the trading volume has been increasing since February. It outpaced the November-December volumes and maintained its advantage, even as the price extended higher. The Money Flow Index was at 97 on this timeframe – Its second highest level after a value of 98 was posted in July 2023. With AUCTION’s price now just a stone’s throw away from its all-time high, it might be a good chance to book profits. Source: Santiment Other very good reasons to take profits were illuminated by Santiment metrics. The supply held by whales has been in decline since mid-February. This suggested that whale holdings were in a distribution phase. The Mean Coin Age has also been trending south since February. Together, they highlighted a network-wide distribution. The decline in whale supply meant that the bigger market participants were using the rally to take profits. The 30-day MVRV ratio was at 92.98% – The highest it has been since December 2023. This implied that short-term AUCTION holders were, on average, at a high…

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Filed under: News - @ March 23, 2025 2:08 am