Cryptocurrencies such as HBAR, XRP, AGLD, and ZEN Coin are currently in the overbought zone. However, with the decrease in fear in the markets, these assets may continue to rise. On the other hand, most altcoins continue to trade at low levels, falling below the neutral zone. APT Coin may make new lows. While Bitcoin (BTC) is trading at $93,800, it seems that altcoin investors are not making much profit. Ethereum (ETH) is fluctuating around $3,300 in the early days of 2025. Today, we will focus on popular cryptocurrencies, examining which ones are at the buy level and which altcoins are overpriced. Here are the details:
Are New Lows Possible for APT Coin?
APT Coin is starting 2025 after peaking at $15. The analyst known by the nickname Daan Crypto Trades shared data from the current chart, indicating possible deeper lows and buying opportunities. According to the analyst, APT Coin has reached a critical point at the "Golden Fibonacci retracement level" and "Daily 200 MA" levels. The analyst commented as follows:
“APT Coin, which has been on a good run since August, is currently testing critical levels and attempting to make a new bottom.”
If the selling pressure continues, the price may drop to the $6.67 to $4.3 range. However, the recovery of BTC prices after the holiday period could have a positive impact on altcoins like APT Coin.
Buying Opportunities with RSI Indicator
The RSI (Relative Strength Index) indicator is used to measure demand in cryptocurrencies. If the RSI reaches overbought levels, it means that prices will enter a correction. Today, the RSI status of over 100 cryptocurrencies will be followed. Among the cryptocurrencies in the overbought region, HBAR, XRP, AGLD and ZEN Coin are among the notable ones. An important detail here is that if the market is moving in a strong uptrend, the prices of these assets can continue to increase even if the RSI is overbought.
Altcoins in Oversold Zone and Buying Opportunities
Not every altcoin that enters the oversold zone necessarily presents a buying opportunity. For example, DOGS Coin has been performing poorly recently due to the decrease in altcoin interest on Telegram and dissatisfaction with the airdrop process. This could lead to DOGS Coin trading at lower levels with limited demand for a longer period of time.
Altcoins Affected by Drops: TAO, WIIF, TIA
Some altcoins that have fallen below 50 may be nearing the end of a major correction. Cryptocurrencies like TAO, WIIF, and TIA were severely affected by Bitcoin’s decline. These altcoins are now waiting for BTC prices to reach six-figure levels again and for the fear level to drop. This could lead to a strong recovery from the lows.
BTC Below $94,000 and Market Developments
Bitcoin is currently trading below $94,000. Important developments on January 20 are expected to create excitement in the markets. This date could lead to significant price movements in the cryptocurrency markets.