Many cryptocurrencies surged for extraordinary gains in the last seven days. Market indicators suggest potential downturns and disparate price fluctuations for three particular cryptocurrencies that crypto traders should avoid buying next week.
Cryptocurrency markets demonstrate high volatility and operate in alternate trends. Therefore, investors must remain cautious with coins that have already accrued meaningful gains.
In this context, Finbold turned to the Relative Strength Index (RSI) heatmap on CoinGlass to identify digital assets that might be overbought or trading at a premium. We retrieved this data on October 27, looking to a 1-week time frame RSI.
Particularly, Injective Protocol (INJ), Bluzelle (BLZ), and Unifi Protocol DAO (UNFI) stand out as projects that should be avoided next week, according to elevated RSI points in the ‘Overbought’ heat zone.
Crypto market RSI heatmap – Filtered by overbought in 1-week. Source: CoinGlass
Injective Protocol (INJ)
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