This Is Getting Boring 😑 Crypto Market RSI Hits New Low ⬇️
Yesterday's candle close sent the average RSI of 200 tokens to a new 2-year all-time low of 25.2, clearly breaking the major resistance.
The positive aspect: A reversal and relief rally gets more likely with every low. However, the market hasn't shown many signs of life lately. Therefore, I see two options:
1️⃣ — A significant event (e.g., the ETH ETF launch date) revives the market and brings fresh buying power.
2️⃣ — Instead of a stronger relief rally, the market pumps only slightly before continuing to move sideways or in a slow downtrend.
To close with another positive aspect, there won't be a sharp decline in altcoins at this level. The heavily oversold RSI (some tokens are at an RSI level of 10!!!) makes this very unlikely.
