The cryptocurrency market has seen a significant surge in activity, with numerous tokens experiencing substantial price increases.
Yet, as seasoned investors know, a steep ascent often precedes a descent. It's normal, even beneficial, for the market to undergo a correction phase after such vigorous trading periods.
One of the most trusted tools for predicting potential market retractions is the Relative Strength Index (RSI). This indicator helps pinpoint assets that may be primed for a price correction.
After a comprehensive analysis of over 550 tokens, I've identified several that currently exhibit overbought conditions according to their RSI values.
Highlighted below are the tokens that topped the list, ordered by market capitalization:
Artificial Superintelligence Alliance ($FET)
Stacks ($STX)
Bittensor ($TAO )
Sei (SEI)
Pax Gold (PAXG)
Mina Protocol (MINA)
SuperVerse (SUPER)
Blur (BLUR)
IoTeX (IOTX)
Osmosis (OSMO)
Arkham (ARKM)
Celo (CELO)
Aragon (ANT)
Saga (SAGA)
Neutron (NTRN)
IQ (IQ)
DODO (DODO)
Phoenix (PHB)
These tokens have shown signs that they might be approaching a tipping point where a correction could be imminent.
Investors should monitor these assets closely and consider the potential for pullbacks when planning their investment strategies.
Staying informed and vigilant is key to navigating these volatile markets effectively.
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