Many cryptocurrencies have made extraordinary gains in the last seven days. Crypto expert Vinicius Barbosa reviewed the latest market indicators. He found that these showed declines and different price fluctuations for the three altcoins. As a result, he recommends that crypto investors stay away from these 3 cryptocurrencies next week.
Indicators gave risk signals for these 3 altcoins!
cryptokoin.comAs you follow from, cryptocurrency markets have high volatility. Additionally, it works with alternative trends. Therefore, investors should be wary of altcoins that have already posted meaningful gains.
In this regard, we refer to the Relative Strength Index (RSI) heat map on CoinGlass to identify crypto assets that are overbought or trading at a premium. We took this data on October 27th and looked at the 1-week timeframe RSI. In particular, Injective Protocol (INJ), Bluzelle (BLZ) and Unifi Protocol DAO (UNFI) stand out as altcoin projects to avoid next week based on high RSI points in the ‘Overbought’ heat zone.
First in line is Injective Protocol (INJ)
Interestingly, ChatGPT recommended Injective as a best buy on October 21. This turned out to be a profitable move. Because the altcoin achieved a price increase of over 39% in a week. Meanwhile, the token was trading at $12.85 at the time of writing. However, the Relative Strength Index is currently accumulating a whopping 91.02 points in 24 hours and 73.05 points in seven days. Both point to an overbought situation for INJ. This could lead to a trend reversal for INJ next week.
Risky second altcoin: Bluzelle (BLZ)
BLZ, whose weekly premium was even higher, achieved a 17.42% price increase during the period. Meanwhile, the token was trading at $0.216 at the time of writing. Bluzelle’s Relative Strength Index accumulated 77.55 points in seven days. This indicates that it may be overbought and may be in a bearish trend. However, the 24-hour RSI is indicating strength at 66.29 points, although it is approaching overbought status.
In last place is Unifi Protocol DAO (UNFI)
The last of the three altcoin projects to avoid buying next week is the Unifi DAO token. This governance token has the lowest overbought status among the assets in question. However, high risk still prevails due to its lowest market capitalization and liquidity. UNFI gained 19.5% for the week. The 71.5 RSI indicates that it is overpriced in this time frame. The altcoin was trading at $7.80 at the time of writing. Meanwhile, the token is showing strength on both 24-hour and 4-hour indices. Despite this, investors need to be cautious as this low-volume token is susceptible to high volatility.
The opinions and predictions in the article belong to the expert and are definitely not investment advice. cryptokoin.com We strongly recommend that you do your own research before investing.
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