The cryptocurrency market has recently experienced significant turbulence, with Bitcoin (BTC) leading a broader sell-off. After approaching $99,690 on November 22, BTC has fallen to its current price of $92,146, marking a 5.6% decline in the last 24 hours.
Amid easing geopolitical tensions between Lebanon and Israel, safe-haven assets like Bitcoin and gold are facing selling pressure. This trend is further exacerbated by mounting concerns over Trump’s tariff threats, adding to the strain on global markets.
Amid this volatility, Finbold analyzed the RSI heatmap from CoinGlass on November 26 to pinpoint potential buy signals.
Notably, two cryptocurrencies, Algorand (ALGO) and Decentraland (MANA), have emerged as promising buying opportunities, supported by strong technical indicators.
The average 12-hour Relative Strength Index (RSI) stands at 57.03, reflecting a balanced market sentiment and moderate momentum across the cryptocurrency sector.
Algorand (ALGO)
Algorand has been displaying robust momentum, positioning itself as a compelling option for traders and investors. ALGO’s RSI stands out, with a 12-hour RSI of 69.16, significantly outperforming the crypto market’s average of 57.03.
Crypto Market RSI Heatmap: ALGO. Source: CoinGlass
Its weekly RSI of 73.07 further underscores its bullish momentum, reflecting sustained buying pressure across extended timeframes.
Currently priced at $0.2848, ALGO has demonstrated remarkable price stability, gaining 0.21% over the past 12 hours.
This modest but steady performance signals an accumulation phase, indicating investor confidence rather than speculative trading.
Importantly, ALGO’s RSI remains below the overbought threshold, suggesting room for further growth without the immediate risk of a pullback. These factors make ALGO a strong candidate for investors seeking a blend of momentum and stability in the current market.
Decentraland (MANA)
Decentraland also presents a strong buy signal, underpinned by bullish RSI metrics that reflect sustained demand and resilience.
Its 12-hour RSI of 63.45 and 24-hour RSI of 65.9 are well above the market average, signaling strong buying interest and momentum.
Crypto Market RSI Heatmap: MANA. Source: CoinGlass
The weekly RSI of 63.12 reinforces confidence in its long-term potential, even as its one-hour RSI of 42.46 shows short-term consolidation. This period of consolidation presents a strategic entry point for new buyers before the next potential rally.
Despite a recent 18.52% price decline in the past 12 hours, MANA’s RSI metrics indicate that it is not in oversold territory yet. This suggests that the dip is more of a market correction than a sign of fundamental weakness. As a result, MANA remains an attractive opportunity for investors looking to capitalize on potential recovery and growth.
In a market characterized by volatility and uncertainty, Algorand and Decentraland have emerged as notable candidates this week. Both cryptocurrencies exhibit robust RSI metrics, indicating bullish momentum.
However, it’s crucial to acknowledge that short-term market fluctuations can influence their trajectories. Investors are advised to exercise caution, conduct thorough research, and ensure their investment strategies align with their risk tolerance and long-term financial objectives.
Featured image via Shutterstock
The post Buy signal for two strong cryptocurrencies this week appeared first on Finbold.