Despite the broader cryptocurrency market remaining bearish, several assets are witnessing increased capital inflows in the short term.
This surge has propelled certain cryptocurrencies into overbought territory, as their Relative Strength Index (RSI) readings indicate.
Notably, the RSI, a momentum oscillator that measures the speed and change of price movements, typically signals overbought conditions when it exceeds 70. This suggests an asset may be overextended and due for a potential correction.
In this context, Finbold has identified the following two digital assets worth avoiding now due to their overbought status.
Bitcoin Cash (BCH)
Bitcoin Cash (BCH) is currently among the high-flying digital assets. As of press time, cryptocurrency was trading at $385, gaining 30% on the daily and weekly charts.
BCH one-week price chart. Source: Finbold
Indeed, investors should proceed cautiously, as the one-hour RSI is 74.16, and the 12-hour RSI is 68.79—both near the thres
We współpracy z: https://finbold.com/2-overbought-cryptocurrencies-to-avoid-buying-now/
