Ethereum

Bitcoin

Frax Share

Frax

<div class="finbold">
 <p class="paragraph">The cryptocurrency market has seen a significant downturn, with the total market capitalization dropping from $2.49 trillion to $2.21 trillion over the past month. Over the week, Bitcoin (BTC) fell 4.6% to $60,844.77, while Ethereum (ETH) dropped by 7.19% to $2,903.84.</p>
 <p class="paragraph">However, the overall 1-week relative strength index (RSI) standing at 48.70 indicates that not all assets are equally impacted. Moreover, some may be approaching <a rel="noopener noreferrer nofollow" title="oversold" href="https://thebittimes.com/tag/oversold.html">oversold</a> territories, hinting at potential buying opportunities according to data from <em>CoinGlass</em>.&nbsp;</p>
 <p class="paragraph">From an optimistic perspective, Finbold identified two cryptocurrencies that are notably oversold on a short-term basis, as evidenced by their 1-week RSI readings, and may offer good buying opportunities amidst the market crash.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <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"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Britain’s gold sell-off in 1999 has cost the U.K. £21 billion <span class="self-center text-xs text-slate-500">1 hour ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Here's why you should closely watch these 2 <a rel="noopener noreferrer nofollow" title="cryptocurrencies" href="https://thebittimes.com/tag/cryptocurrencies.html">cryptocurrencies</a> in May <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Dogecoin’s ‘golden cross’ could spark a 100% price rally for DOGE&nbsp; <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Short squeeze alert for the week: Two <a rel="noopener noreferrer nofollow" title="cryptocurrencies" href="https://thebittimes.com/tag/cryptocurrencies.html">cryptocurrencies</a> with potential to skyrocket <span class="self-center text-xs text-slate-500">3 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <h2 class="wp-block-heading" id="h-manta-manta">MANTA (MANTA)</h2>
 <p class="paragraph">MANTA emerges as a standout among <a rel="noopener noreferrer nofollow" title="oversold" href="https://thebittimes.com/tag/oversold.html">oversold</a> assets. Currently priced at $1.66, MANTA has experienced a significant decrease of 38.10% over the past month.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="397" src="https://cdn.thebittimes.com/images/2024/05/11/c0c6e4f373d1093f6fe304c2b1d63606.webp" alt class="wp-image-175351" srcset="https://cdn.thebittimes.com/images/2024/05/11/c0c6e4f373d1093f6fe304c2b1d63606.webp 1024w, https://cdn.thebittimes.com/images/2024/05/11/c0c6e4f373d1093f6fe304c2b1d63606.webp 300w, https://cdn.thebittimes.com/images/2024/05/11/c0c6e4f373d1093f6fe304c2b1d63606.webp 768w, https://cdn.thebittimes.com/images/2024/05/11/c0c6e4f373d1093f6fe304c2b1d63606.webp 1309w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Crypto market daily RSI heatmap, MANTA. Source: CoinGlass</em> <br>
  </figcaption>
 </figure>
 <p class="paragraph">This is coupled with an RSI of 28.02 over the week and 38.27 over the past 24 hours, suggesting that MANTA is deeply <a rel="noopener noreferrer nofollow" title="oversold" href="https://thebittimes.com/tag/oversold.html">oversold</a>. These technical indicators, combined with MANTA’s strong fundamentals, suggest a potentially undervalued asset that may be poised for a rebound.</p>
 <h2 class="wp-block-heading" id="frax-share-fxs">Frax Share (FXS)</h2>
 <p class="paragraph">Another cryptocurrency showing similar patterns is Frax Share (FXS), currently priced at $4.26, down by 35.39% over the same period. RSI levels of 29.21 weekly and 38.06 over the past 24 hours indicate that FXS is approaching oversold territory.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="397" src="https://cdn.thebittimes.com/images/2024/05/11/c0c6e4f373d1093f6fe304c2b1d63606.webp" alt class="wp-image-175352" srcset="https://cdn.thebittimes.com/images/2024/05/11/c0c6e4f373d1093f6fe304c2b1d63606.webp 1024w, https://cdn.thebittimes.com/images/2024/05/11/c0c6e4f373d1093f6fe304c2b1d63606.webp 300w, https://cdn.thebittimes.com/images/2024/05/11/c0c6e4f373d1093f6fe304c2b1d63606.webp 768w, https://cdn.thebittimes.com/images/2024/05/11/c0c6e4f373d1093f6fe304c2b1d63606.webp 1309w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Crypto market daily RSI heatmap, FXS. Source: CoinGlass</em> <br>
  </figcaption>
 </figure>
 <p class="paragraph">This technical assessment points towards a possible price recovery, making FXS an attractive investment option for those considering entering the market during this downturn.</p>
 <p class="paragraph">The current market landscape presents a challenging yet opportunistic scenario. Both MANTA and FXS show significant price reductions accompanied by low RSI values, classifying them as potentially oversold.&nbsp;</p>
 <p class="paragraph">For technically inclined investors, these <a rel="noopener noreferrer nofollow" title="cryptocurrencies" href="https://thebittimes.com/tag/cryptocurrencies.html">cryptocurrencies</a> provide notable buy signals based on their current market valuations and technical indicators. However, it’s crucial to remember the high volatility of <a rel="noopener noreferrer nofollow" title="cryptocurrencies" href="https://thebittimes.com/tag/cryptocurrencies.html">cryptocurrencies</a>, where market conditions can rapidly change</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-two-oversold-cryptocurrencies-this-may-tbt88084.html">https://thebittimes.com/buy-signal-for-two-oversold-cryptocurrencies-this-may-tbt88084.html</a></p>

Buy signal for two oversold cryptocurrencies this May

Table of Contents

TheBitTimes

Other articles published on May 11, 2024

Renowned Economist Reveals “The Date the Bull in Bitcoin Will End” and “The Peak Level BTC Will See”

OKX Ventures invests in Web3 ‘play ARPG to train AI’ game Blade of God X

BlockDAG’s Low-Code/No-Code Platform Promises NFT Innovation, Surpassing Solana NFTs And XLM Fore...

Toncoin Price Prediction 2024 – 2030: Will TON Price Hit $10 In Q2?

Venture Capital’s Hefty Bet Propels Toncoin 30% Higher!

30,000x ROI Potential: BlockDAG Takes CoinMarketCap Listing Celebrations to Piccadilly Circus As ...

Join our free newsletter for daily crypto updates!