Follow Us @
Analyst highlights 2 cryptocurrencies with strong buy signal
-Trending Marketing news, content marketing, latest Ways to rank your website, marketing discoveries, Local SEO, seo and social media marketing services. enjoy your stay on our website.
THE cryptocurrency market once again exhibits high volatility after the United States Producer Price Index (PPI) recorded an unexpected 3% increase in November, the highest level since February 2023.
This result, combined with the increase in the Consumer Price Index (CPI) in the previous month, exceeded market forecasts. Furthermore, it reduced expectations of interest rate cuts by the Federal Reserve at next week’s FOMC meeting.
Amid this scenario of uncertainty, Finbold analysts studied the heatmap of CoinGlass’s Relative Strength Index (RSI) and identified two promising cryptocurrencies that present purchasing opportunities: Synthetix (SNX) and Alien Worlds (TLM).
Synthetix (SNX) emerges as an attractive option for traders and investors due to its robust technical indicators. The 24-hour RSI at 65.16 reflects a strong uptrend without reaching overbought conditions.
Synthetix (SNX): cryptocurrency with consolidation
After a recent drop of 5.2%, the asset has entered a consolidation phase considered healthy, often a precursor to a bullish breakout. Moving averages reinforce this positive outlook. According to CoinGlass, 14 out of 15 moving average metrics signal buy, including 10-, 20- and 200-period exponential averages (EMAs).
This set of indicators places the SNX in an advantageous position for short and medium term gains, especially with the overall market RSI at 51.99, reflecting a still neutral trend.
Currently the price of Synthetix registers a drop of 4% in the last 24 hours, trading at around US$3according to data from CoinGecko.
Another cryptocurrency that deserves attention is Alien Worlds (TLM). With a gain of almost 70% in the last monththe asset demonstrated strong interest from investors.
Technical methods also point to an optimistic scenario. Of the metrics analyzed, 14 indicate purchase, while none suggest sale.
You RSI values vary between 60.47 in 15-minute intervals and 67.34 in an hourwith a 24-hour average of 64.26, beating the overall market RSI. This dynamic suggests sustained buying pressure and the potential for further highs.
Analyst highlights 2 cryptocurrencies with strong buy signal
Follow TODAYSGIST on Google News and receive alerts for the main trending SEO news, Ai news, latest Ways to rank your website, marketing discoveries, Local SEO and lots more!
Analyst highlights 2 cryptocurrencies with strong buy signal
SHARE POST AND EARN REWARDS:
Did you like this post?!!! Join our Audience reward campaign and make money reading articles, shares, likes and comment >> Join reward Program
FIRST TIME REACTIONS:
Analyst highlights 2 cryptocurrencies with strong buy signal
Be the first to leave us a comment, down the comment section. click allow to follow this topic and get firsthand daily updates.
JOIN US ON OUR SOCIAL MEDIA: << FACEBOOK >> | << WHATSAPP >> | << TELEGRAM >> | << TWITTER >
Analyst highlights 2 cryptocurrencies with strong buy signal
