📈 Buy signal for two strong cryptocurrencies this week
The global cryptocurrency market cap today is $2.25 trillion, reflecting a 0.2% increase in the last 24 hours.
This decline in sentiment is largely due to Bitcoin’s recent struggles to break above the $60,000 mark.
🔸 MANTRA (#OM )
MANTRA (OM) is showing strong buy signals based on its RSI values and other technical indicators. The RSI values across various timeframes for OM are impressive, with a 15-minute RSI of 48.11, a 1-hour RSI of 50.06, and a 4-hour RSI of 60.68, suggesting growing buying interest.
The more significant 12-hour RSI of 67.25 and 24-hour RSI of 64.76 indicates a robust upward momentum. The weekly RSI of 80.98 underscores the sustained buying pressure. Despite a 24-hour price drop of 2.89%, this decline can be seen as a buying opportunity, as the overall RSI trend remains positive.
Beyond RSI, other technical indicators also point to a bullish outlook for OM. The Moving Average Convergence Divergence (MACD) indicator shows a bullish crossover, suggesting that the price trend is upward.
The Exponential Moving Averages (EMAs) on various timeframes, such as the 10-day and 50-day EMAs, indicate a strong buy signal, reinforcing the potential for an upward price movement.
Additionally, the Commodity Channel Index (CCI) and Average Directional Index (ADX) also suggest a bullish trend, supporting the positive outlook for OM.
🔸 Horizen (#ZEN )
Horizen (ZEN) also shows strong buy signals based on its technical indicators. The short-term RSI values, such as the 15-minute RSI of 34.98 and the 1-hour RSI of 32.02, indicate that ZEN is currently oversold, suggesting a possible rebound.
The 4-hour RSI of 46.65 and 12-hour RSI of 60.7 highlights increasing buying interest. The 24-hour RSI of 61.4 and the weekly RSI of 52.5 further confirm a steady buying trend. Although ZEN experienced a 5.82% price drop in the last 24 hours, the RSI values indicate a likely recovery.
