As the cryptocurrency market stabilizes following a recent downturn, opportunities for strategic investments are emerging, particularly in assets that have recently entered oversold territories. 

Leveraging the 24-hour RSI heatmap from CoinGlass’s momentum indicator, Finbold has identified these opportunities, identifying potential undervalued assets poised for recovery.

Following a period marked by fear and significant sell-offs, the market is gradually trending upward, unveiling new opportunities for investors

The average Relative Strength Index (RSI) across the market currently stands at 53.26, indicating balanced trading conditions.

The RSI is a crucial tool for spotting buying opportunities as it gauges the magnitude of recent price changes to evaluate whether an asset is overbought or oversold.

By comparing current RSI values to the average, investors can identify potential undervalued assets poised for recovery.

Bluzelle (BLZ)

Bluzelle (BLZ) demonstrates a strong buy signal due to its significantly low RSI values across various timeframes. The 24-hour RSI at 35.79,still indicates weakness and potential undervaluation compared to the market average.

Crypto market RSI heatmap, BLZ. Source: CoinGlass

The 12-hour RSI of 43.28 supports this trend of diminished momentum. Despite a recent 4% price increase, BLZ remains attractive for those anticipating a rebound.

Historically, BLZ has experienced substantial price recoveries from similar RSI levels, suggesting these conditions could precede a significant upward movement.

Ontology Gas (ONG)

Ontology Gas (ONG) is also showing clear signs of being weak, with RSI values across different time frames all below the average of 53.26. This consistent indication of oversold conditions points to potential undervaluation. 

Even though ONG has seen a slight price decrease of 0.54%, the stable, low RSI values suggest a potential for rebound.

Crypto market RSI heatmap, ONG. Source: CoinGlass

For investors, this represents an opportunity to buy into ONG at a low point, making it a strategic investment choice.

Nevertheless, understanding that a status of market weakness does not guarantee a price recovery is vital for investors looking for buy signals.

Cryptocurrencies are highly volatile assets, and everything can change in the blink of an eye.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post These two cryptocurrencies show recovery potential this week appeared first on Finbold.

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