The cryptocurrency market is experiencing a crash, leaving traders and investors uncertain about when the market will bottom out. However, technical indicators such as the Relative Strength Index (RSI) can help identify potentially oversold cryptocurrencies to buy. The RSI measures an asset's momentum based on its activity and considers average gains and losses over a 14-day trading period. By analyzing the 4-hour RSI data, it was found that Cosmos (ATOM) is currently the most oversold cryptocurrency, making it a potential buying opportunity. MultiversX, on the other hand, has postponed its global event due to recent developments but plans to hold satellite meetups leading up to the xDay Global event in April 2025. Despite the potential buying opportunities suggested by the oversold prices of ATOM and EGLD, caution must be exercised as the RSI is not a definitive indicator and market sentiment can still cause prices to crash further.
- Content Editor ( finbold.com )
- 2024-09-06
Buy signal for 2 oversold cryptocurrencies this weekend