The cryptocurrency market is still largely in a unification phase, led by Bitcoin (BTC), which is pushing for a decisive break over $ 85,000 resistant with a $ 90,000 mark targeting.
Despite the pent -up price movement, many digital assets show the increased purchase pressure that raised it to lands at the height of purchase, as it works historically as sales to correct prices.
While short -term traders may still find opportunities in such an environment, the risk of a contraction of excessive conditions in conditions that exceed possible rewards, and thus the need to avoid the following cryptocurrencies next week.
Binaryx (bnx)
Binaryx (BNX) recently gained popularity in the cryptocurrency market, where huge capital flows were recorded. The distinctive symbol, which is circulated at $ 1.49 from the time of the press, has seen a 37.49 % increase over the past 24 hours.
Although these short -term gains may be attractive to investors, the 3 -minute relative code index (RSI) of 74.78, along with RSI values for an hour, 4 hours, and 12 hours from 82.13, 83.32 and 70.53, respectively, indicates that BNX is on the deck.
In general, the Relative Power Index above 70 indicates that the original may be exaggerated and the cause of decline.
In fact, given the increase in the platform’s increasing initiatives on the series, there is an increased activity about BNX, making it very hot to buy purchases at the present time.
In particular, the Gamefi icon was set to rename the brand to four (model), with a pioneering exchange like Bitget and Binance to support the transition. The brand renamed and the distinctive symbol 1: 1 is aimed at updating the project’s identity.
Although the short term may represent an increased volatility for BNX, the long -term symbol expectations are still strong, given that unrivaled investment support from entities such as Binance Labs.
The universe (corn)
Cosmos (ATOM) was among the excellent engines amid pent -up market conditions. For context, the ATOM price has increased for five consecutive days, coinciding with sustainable demand as its future open interest increases.
ATOM has been trading at $ 4.702 from the time of the press, with 2.66 % over the past 24 hours.
Despite this fixed growth, RSI measures, 68.75 (15 minutes), 62.51 (1 hours), 71.14 (4 hours), and 62.62 (12 hours) indicate that ATOM is close to excessive thorny conditions, hinting that the bullish momentum of assets has been removed.
It is worth noting, as of March 15th, the open interest of ATOM decades has increased to $ 93 million, the highest since February 2021. This metropolitan follows orders set and connected, and open attention often indicates a recovery of encryption. However, the current conditions that pass with excessive anxiety call for caution.
While the high relative power index indicates that the distinctive digital assets in the peak purchase area, it does not necessarily mean that the immediate correction is imminent. However, it is a sign of caution, as historically, such circumstances have preceded the decline.
Distinctive image via Shutterstock
