Bitcoin Cash

2024

Monero

THORChain

<div class="finbold">
 <p class="paragraph">Cryptocurrencies have registered massive gains in the past seven days, most of which have reached an overbought status. However, the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency market has its laggards, now <a rel="noopener noreferrer nofollow" title="recovering" href="https://thebittimes.com/tag/recovering.html">recovering</a> from weak price action and gaining momentum.</p>
 <p class="paragraph">Investors can benefit from technical analysis buy signals. In particular, from indicators suggesting trend reversals for cryptocurrencies that are picking up steam.</p>
 <p class="paragraph">Therefore, Finbold turned to <em>CoinGlass</em>’s Relative Strength Index (RSI) heatmap on March 3, looking for insights. From there, we spotted two <a rel="noopener noreferrer nofollow" title="recovering" href="https://thebittimes.com/tag/recovering.html">recovering</a> <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies with solid fundamentals that are gaining momentum in the weekly time frame.</p>
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   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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 <h2 class="wp-block-heading" id="h-strong-buy-signal-for-a-recovering-monero-xmr">Strong buy signal for a recovering Monero (XMR)</h2>
 <p class="paragraph">First, Monero (XMR) is recovering from a huge drop as low as $100 in early February, following bearish news. On that occasion, Binance announced the delisting of the leading privacy coin, surprising the market that panic-sold XMR.</p>
 <p class="paragraph">This event gave Monero an oversold weekly RSI, from which the solid project is recovering amid a 16% 7-day surge. Notably, XMR reached a neutral 42.52 RSI, trading at $148.98 by press time.</p>
 <p class="paragraph">Thus, a full recovery is now on the horizon with the suggestion of a trend reversion, which investors can see as a strong buy <a rel="noopener noreferrer nofollow" title="signal" href="https://thebittimes.com/tag/signal.html">signal</a> this week for a mid to long-term bullish forecast. Reaching a 10 times market cap increase in 2024 is possible for Monero, given the right conditions.</p>
 <p class="paragraph">In the meantime, short-term traders can possibly wait for better entry points and avoid exposure in a green week.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="523" src="https://cdn.thebittimes.com/images/2024/03/03/83e6f8a4af2d5a874108079f7cdfe581.webp" alt class="wp-image-158386" srcset="https://cdn.thebittimes.com/images/2024/03/03/83e6f8a4af2d5a874108079f7cdfe581.webp 1024w, https://cdn.thebittimes.com/images/2024/03/03/83e6f8a4af2d5a874108079f7cdfe581.webp 300w, https://cdn.thebittimes.com/images/2024/03/03/83e6f8a4af2d5a874108079f7cdfe581.webp 768w, https://cdn.thebittimes.com/images/2024/03/03/83e6f8a4af2d5a874108079f7cdfe581.webp 1536w, https://cdn.thebittimes.com/images/2024/03/03/83e6f8a4af2d5a874108079f7cdfe581.webp 1998w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Crypto market RSI heatmap: Monero (XMR). Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="thorchain-rune">THORChain (RUNE)</h2>
 <p class="paragraph">THORChain (RUNE) is another cryptocurrency with solid fundamentals and significant recovery, but it is still lagging behind the market.</p>
 <p class="paragraph">Interestingly, RUNE is now above the neutral-50 weekly RSI, with shy gains of nearly 4% in this time frame. Trading at $5.61, THORChain’s daily RSI also shows a growing momentum that traders could interpret as a buy signal.</p>
 <p class="paragraph">The project is a cross-chain and decentralized exchange protocol built to facilitate swaps between different blockchains. On that note, an overall bull market could drastically increase the demand for its solution and RUNE.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="523" src="https://cdn.thebittimes.com/images/2024/03/03/7836c5bf273e8a58033b9767d1715204.webp" alt class="wp-image-158387" srcset="https://cdn.thebittimes.com/images/2024/03/03/7836c5bf273e8a58033b9767d1715204.webp 1024w, https://cdn.thebittimes.com/images/2024/03/03/7836c5bf273e8a58033b9767d1715204.webp 300w, https://cdn.thebittimes.com/images/2024/03/03/7836c5bf273e8a58033b9767d1715204.webp 768w, https://cdn.thebittimes.com/images/2024/03/03/7836c5bf273e8a58033b9767d1715204.webp 1536w, https://cdn.thebittimes.com/images/2024/03/03/7836c5bf273e8a58033b9767d1715204.webp 1998w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Crypto market RSI heatmap: THORChain (RUNE). Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <p class="paragraph">On the other hand, the buy signal could be invalidated if these two recovering cryptocurrencies fail to embrace the momentum. The crypto market’s volatility and fast-moving characteristics could backfire if cryptocurrencies enter a correction phase.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/buy-signal-for-2-recovering-cryptocurrencies-this-week-tbt81486.html">https://thebittimes.com/buy-signal-for-2-recovering-cryptocurrencies-this-week-tbt81486.html</a></p>

Buy signal for 2 recovering cryptocurrencies this week

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