After a challenging period characterized by significant market uncertainty and heavy losses, the cryptocurrency market is beginning to exhibit signs of resurgence. Amidst this recovery phase, two altcoins, in particular, have been identified as showing robust potential for growth based on technical indicators. These altcoins have been highlighted due to their promising BUY signals as per the Relative Strength Index (RSI) metrics provided by CoinGlass.
Spotlight on Near Protocol (NEAR)
Near Protocol, an emerging favorite among Web3 infrastructures, has displayed a compelling technical setup. With its weekly RSI at 67.86 and a daily gaining strength RSI of 59.93, NEAR is currently positioned as a strong candidate for investment. Despite a recent dip in price to $7.19, reflecting a 4.23% decrease, the altcoin’s overall trajectory suggests an impending upward trend should its daily RSI surpass 60.
Render Network (RNDR) Gains Attention
Similarly, the Render Network (RNDR) has caught the eye of investors with its daily RSI standing at 65.5 and a weekly RSI of 65, indicating sustained momentum and a potential continuation of its uptrend. Currently priced at $9.95 after a 5.20% decline, RNDR holds promise for those looking to diversify their cryptocurrency investments.
Insights for Investors
- NEAR’s potential uptrend hinges on its RSI surpassing the 60 threshold, making it a significant level to watch.
- Render Network’s consistent RSI above 65 suggests robust momentum that could lead to profitable opportunities.
- Both NEAR and RNDR, as foundational assets of strong networks, present long-term investment opportunities despite short-term volatility.
The cryptocurrency market remains volatile, and while NEAR and RNDR show potential for gains, investors should remain cautious and monitor these assets closely. The dynamic nature of cryptocurrency investments means that today’s BUY signals might rapidly evolve, requiring agile and informed trading strategies.