The cryptocurrency market is currently in a state of flux under the influence of broader economic factors. The latest data showed surprising US job growth that far exceeded expectations. This means that the economy is coping well with higher interest rates, reducing the likelihood of rate cuts, which affects the flow of money into riskier investments such as cryptocurrencies. Given this economic situation, the two cryptocurrencies that are currently overbought may present a good selling opportunity. Based on CoinGlass's 24-hour relative strength index (RSI) heatmap on June 7, the daily average RSI is 54.70, indicating a neutral market. However, cryptocurrencies that are significantly different from this average.🔸 Binance Coin #BNB)At the time of publication, Binance Coin (BNB) is trading at $700.30, a small price drop of 0.39%. BNB's RSI readings over various time periods show that it is overbought, especially in the last 24 hours. The 24-hour RSI for BNB is at 75.56, which is above the overbought threshold of 70. This indicates strong buying pressure that may be volatile.1 -weekly RSI of 82.52 indicates prolonged overbought, indicating a potential price correction. BNB recently reached an all-time high, highlighting possible overvaluation and market saturation. 🔸 Ordi #ORDI)ORDI, the first token minted on the BRC-20 standard, has also seen significant price movements. ORDI is currently priced at $62,888, representing an 8% gain. ORDI's RSI values also indicate overbought. The 24-hour RSI for ORDI is at 74.65, indicating that it is recently overbought. ORDI is up nearly 17% to just below $57.5, its highest price since early April. This rapid growth, combined with high RSI readings, suggests that ORDI may soon see a price correction as the market stabilizes AND BNB , and ORDI are showing high RSI levels, signaling that they are currently overbought and may be ready for a price correction.
