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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/altcoins-show-signs-of-overbuying-as-crypto-activity-surges" rel="noopener noreferrer nofollow">Altcoins Show Signs of Overbuying as Crypto Activity Surges</a><br></p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/ethereum-foundation-ex-advisor-accuses-vitalik-buterin-of-manipulating-web3" rel="noopener noreferrer nofollow">cryptocurrency</a> market is displaying renewed vigor with altcoins showing a strong performance, yet some have entered an overbought phase according to the latest market indicators. A signal of potential sell-offs emerges for certain altcoins, which have surged in value but now exhibit signs that they may have peaked. The overall market has seen an impressive growth, adding approximately $160 billion to its worth since January 23, indicating a widespread rekindled interest in digital assets.</p>
<h2 id="overbought-alert-for-sui-network-s-sui-token">Overbought Alert for Sui Network’s SUI Token</h2>
<p style="text-align: justify">Crypto data analyst CoinGlass’ weekly Relative Strength Index (RSI) heatmap points out that Sui Network’s SUI token is currently overbought. The token, trading at $1.51 with a recent 3.16% increase over the past week, has an RSI of 79.64, a clear signal for sellers. Despite the surge, some indicators suggest SUI’s current growth may be unsustainable, hinting at a potential downturn.</p>
<h2 id="injective-s-inj-token-exhibits-sell-indicators">Injective’s INJ Token Exhibits Sell Indicators</h2>
<p style="text-align: justify">Similarly, Injective (INJ) is another altcoin flashing a sell signal due to its high RSI levels. Although its price has risen to $32.82, an increase of 1.44%, the RSI metrics are hinting at a possible reversal in its upward trend. Compared to other altcoins, INJ’s RSI readings are notably higher in both weekly and shorter time frames.</p>
<p style="text-align: justify">While these RSI readings provide a potential warning to investors, it is crucial to understand that an overbought status does not necessarily predict a price drop or a reversal. The inherent volatility of the crypto market, especially among altcoins, means that they are often sensitive to news and market events which can precipitously impact their value.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/altcoins-show-signs-of-overbuying-as-crypto-activity-surges" rel="noopener noreferrer nofollow">Altcoins Show Signs of Overbuying as Crypto Activity Surges</a></h5>

Altcoins Show Signs of Overbuying as Crypto Activity Surges

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