As the cryptocurrency market continues to search for a breakout after the October 10 crash, several assets are overstretched with increased trading activity.
However, this capital inflow has pushed some assets into overbought territory, with relative strength index (RSI) readings surpassing the 70 threshold.
Notably, assets in this overbought zone may be poised for a possible correction or consolidation in the coming sessions.
PAX Gold (PAXG)
PAX Gold (PAXG) is trading around $4,213.22, elevating its 24-hour RSI to 87.16, well above typical overbought levels.
PAXG RSI and price chart. Source: Coinglass
Traders are loading into PAXG heavily amid the ongoing gold rally, as spot gold is being bid aggressively amid macroeconomic uncertainty.
This heightened interest is compressing volatility to the upside and pushing momentum indicators like RSI into extreme zones.
Notably, the sheer volume of capital flowing into PAXG leaves little room for sellers without triggerin
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