Thought it would be a good time to look at how some of the major crypto projects have performed in this most recent sell-off. The analysis below shows two things for each project: How far we are from the highs (drawdown).
You can see below that ETH has fared the best so far and is only down 6% while DOGE has fared the worst, being down nearly 70%. To the right of each drawdown number I've included the most recent StratVal level.
As a reminder, Stratval is a proprietary oscillator (similar to RSI) that compares an asset's risk adjusted performance relative to it's own history. I look at it like a temperature gauge on an engine to show me when an asset is getting overheated (too expensive) or when the engine is nice and cool and ready to run for a long time (cheap). I've used it for many years across a number of asset classes and have personally found it to be far more useful than RSI.
You can see here that AVAX is the closest to getting overheated with a reading of 4.67. ADA is on the other hand of the spectrum with a reading of -3.14.
I'm pasting the 50 day StratVal chart for Bitcoin under the drawdown rankings to give you a sense of what it look like through time. The drawdown analysis also has the StratVal reading for each project.
For any of you long-term HODLR's that are looking to use this sell-off as an entry point, hope this is helpful. As always, this is not investment advice so please do your own research!