Terra Classic

Bitcoin

eCash

Dent

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 <p class="paragraph">In the past few days, the cryptocurrency market has seen Bitcoin (BTC) reaching its all-time high and meme coins in the spotlight as the week’s top performers. The euphoria dominated the space, and some cryptocurrencies could now be overbought.</p>
 <p class="paragraph">Some other projects lost momentum as Bitcoin pivots for a price correction after facing the historical resistance at $69,000.</p>
 <p class="paragraph">In this context, Finbold turned to <em>CoinGlass</em> and gathered data from its Relative Strength Index (RSI) heatmap. Notably, dozens of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies currently register an <a rel="noopener noreferrer nofollow" title="overbought" href="https://thebittimes.com/tag/overbought.html">overbought</a> status. Two now show a potential sell <a rel="noopener noreferrer nofollow" title="signal" href="https://thebittimes.com/tag/signal.html">signal</a> in the expectation of a short-term retracement.</p>
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 <h2 class="wp-block-heading" id="h-ecash-xec-could-be-overbought">eCash (XEC) could be overbought</h2>
 <p class="paragraph">In particular, eCash (XEC) has the highest daily and weekly RSIs among other cryptocurrencies. According to <em>CoinGlass</em>’s data, XEC is overbought in both time frames with 89.36 and 79.27 index points, respectively.</p>
 <p class="paragraph">Interestingly, eCash is a direct fork from Bitcoin. It is up 53.57% in the last seven days to $0.00006892, following BTC’s leadership. A retracement is possible if Bitcoin continues its expected correction, which could go as low as $50,000.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="620" src="https://cdn.thebittimes.com/images/2024/03/06/13cf6616dec6b6721e0f03ba7a0bbb81.webp" alt class="wp-image-158974" srcset="https://cdn.thebittimes.com/images/2024/03/06/13cf6616dec6b6721e0f03ba7a0bbb81.webp 1024w, https://cdn.thebittimes.com/images/2024/03/06/13cf6616dec6b6721e0f03ba7a0bbb81.webp 300w, https://cdn.thebittimes.com/images/2024/03/06/13cf6616dec6b6721e0f03ba7a0bbb81.webp 768w, https://cdn.thebittimes.com/images/2024/03/06/13cf6616dec6b6721e0f03ba7a0bbb81.webp 1536w, https://cdn.thebittimes.com/images/2024/03/06/13cf6616dec6b6721e0f03ba7a0bbb81.webp 1798w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Crypto market RSI heatmap: 1000XEC. Source: <em>CoinGlass</em>
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 </figure>
 <p class="paragraph">It is worth mentioning that eCash is valued at a $1.34 billion market cap at its current prices. Thus, it has 19.65 trillion XEC as its circulating supply.</p>
 <h2 class="wp-block-heading" id="sell-signal-to-dent-dent">Sell signal to Dent (DENT)</h2>
 <p class="paragraph">Second, there is Dent (DENT), a low-cap with a $220 million market value also displaying an overbought status. DENT has a daily RSI of 75.51 and a weekly RSI of 78.32, threatening a sell-off if the momentum weakens.</p>
 <p class="paragraph">Essentially, it is an ERC-20 token running on Ethereum (ETH), built for a digital mobile operator startup. DENT trades at $0.002243 by press time, with weekly gains superior to 12%.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="620" src="https://cdn.thebittimes.com/images/2024/03/06/122e8d1b98dcc4e0413b938dda64de0a.webp" alt class="wp-image-158975" srcset="https://cdn.thebittimes.com/images/2024/03/06/122e8d1b98dcc4e0413b938dda64de0a.webp 1024w, https://cdn.thebittimes.com/images/2024/03/06/122e8d1b98dcc4e0413b938dda64de0a.webp 300w, https://cdn.thebittimes.com/images/2024/03/06/122e8d1b98dcc4e0413b938dda64de0a.webp 768w, https://cdn.thebittimes.com/images/2024/03/06/122e8d1b98dcc4e0413b938dda64de0a.webp 1536w, https://cdn.thebittimes.com/images/2024/03/06/122e8d1b98dcc4e0413b938dda64de0a.webp 1798w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Crypto market RSI heatmap: DENT. Source: <em>CoinGlass</em>
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 <p class="paragraph">On the other hand, having an <a rel="noopener noreferrer nofollow" title="overbought" href="https://thebittimes.com/tag/overbought.html">overbought</a> RSI does not guarantee a price crash or trend reversals. The <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency market is highly volatile, and projects usually respond aggressively to news and relevant events – highly influenced by whale activities.</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>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/sell-signal-for-two-overbought-cryptocurrencies-this-week-tbt81693.html">https://thebittimes.com/sell-signal-for-two-overbought-cryptocurrencies-this-week-tbt81693.html</a></p>

Sell signal for two overbought cryptocurrencies this week

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