Several cryptocurrencies are currently considered oversold based on their Relative Strength Index (RSI) and recent sharp declines in value. Some of these include:
1. TRON (TRX): TRX is highlighted for its RSI readings over different timeframes, which indicates that it is severely oversold. This makes it a potential candidate for a “buy the dip” strategy.
2. Bluzelle (BLZ): Similarly, BLZ shows oversold conditions, with RSI values suggesting a possible recovery as market sentiment improves.
3. Ethereum (ETH): Despite being one of the largest cryptocurrencies, Ethereum has seen a significant decline, making it one of the largest deeply oversold cryptocurrencies. It has the potential to rebound, especially with its upcoming transition to a proof-of-stake validation system
6 Oversold Cryptocurrencies Worth Buying Right Now | InvestorPlace 。
4. Binance Coin (BNB): BNB has recently experienced a significant decline, making it another major cryptocurrency in the oversold region
6 Oversold Cryptocurrencies Worth Buying Right Now | InvestorPlace 。
5. Bitcoin (BTC): While still valued at over $20,000, Bitcoin is also considered oversold due to its massive year-to-date growth and recent monthly decline
6 Oversold Cryptocurrencies Worth Buying Right Now | InvestorPlace .
Other cryptocurrencies showing signs of being oversold include Loopring (LRC), Hedera Hashgraph (HBAR), Chia (XCH), and Yield Guild Games (YGG). These assets are characterized by low RSI values, which indicates potential recovery opportunities as the market stabilizes.
Remember that while these indicators suggest a rebound is possible, investing in cryptocurrencies carries significant risks due to the inherent volatility of cryptocurrencies.
