2024

Litecoin

Long

MultiversX

<div class="finbold">
 <p class="paragraph">The cryptocurrency market is in strong momentum overall, with most projects already showing overbought signals through technical analysis indicators. However, some cryptocurrencies have lagged behind, still suggesting strength for continuation—a buy signal for this week.</p>
 <p class="paragraph">Finbold has reported buy <a rel="noopener noreferrer nofollow" title="signal" href="https://thebittimes.com/tag/signal.html">signal</a>s for oversold <a rel="noopener noreferrer nofollow" title="cryptocurrencies" href="https://thebittimes.com/tag/cryptocurrencies.html">cryptocurrencies</a> in the past few weeks, considering potential downtrend reversals. Now, the few existing downtrends could hint at fundamental weakness, and <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> investors should be careful when trading them.</p>
 <p class="paragraph">In a bull market, there is an opportunity for new narratives and trends that have recently started. Technically, the Relative Strength Index (RSI), usually above 60 points and below 70, can help spot strong momentum.</p>
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  <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"> 
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 <p class="paragraph">Looking for further insights on a buy signal, Finbold turned to <em>CoinGlass</em> data and spotted two cryptocurrencies with a strong buy signal to navigate the bull market that has already started.</p>
 <h2 class="wp-block-heading" id="h-litecoin-ltc">Litecoin (LTC)</h2>
 <p class="paragraph">First, Litecoin (LTC) shows <a rel="noopener noreferrer nofollow" title="strong" href="https://thebittimes.com/tag/strong.html">strong</a> momentum with a 60.7 weekly RSI while remaining below the average 64.9 RSI. This suggests a bullish trend could be picking up steam for LTC as it trades at $88.47.</p>
 <p class="paragraph">Notably, Litecoin is one of the leading payment coins in the market, which could benefit from a surging payment narrative.</p>
 <p class="paragraph">Moreover, LTC has recently seen 2.55% losses in the last seven days. This shows a neutral or weaker RSI on lower time frames, which investors can use as a buy signal.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="619" src="https://cdn.thebittimes.com/images/2024/03/10/12caba14eb1fc745864dab6428637422.webp" alt class="wp-image-159957" srcset="https://cdn.thebittimes.com/images/2024/03/10/12caba14eb1fc745864dab6428637422.webp 1024w, https://cdn.thebittimes.com/images/2024/03/10/12caba14eb1fc745864dab6428637422.webp 300w, https://cdn.thebittimes.com/images/2024/03/10/12caba14eb1fc745864dab6428637422.webp 768w, https://cdn.thebittimes.com/images/2024/03/10/12caba14eb1fc745864dab6428637422.webp 1536w, https://cdn.thebittimes.com/images/2024/03/10/12caba14eb1fc745864dab6428637422.webp 1798w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Crypto market RSI heatmap: Litecoin (LTC). Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="multiversx-egld">MultiversX (EGLD)</h2>
 <p class="paragraph">Second, MultiversX (EGLD) is in a similar situation to Litecoin. MultiversX has one of the lowest RSI among the ‘strong’ projects. Essentially, this highlights a higher risk-reward ratio, with more growth potential, while in a bullish trend.</p>
 <p class="paragraph">In particular, EGLD has retraced by 5.29% in the week, trading at $67.83 as of writing. Meanwhile, the MultiversX native token shows a <a rel="noopener noreferrer nofollow" title="strong" href="https://thebittimes.com/tag/strong.html">strong</a> weekly RSI of 61.32.</p>
 <p class="paragraph">Interestingly, MultiversX is the only L1 blockchain with fully implemented and battle-tested sharding.&nbsp;</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="619" src="https://cdn.thebittimes.com/images/2024/03/10/8cb0ff7d5297c08694117d085512d7aa.webp" alt class="wp-image-159958" srcset="https://cdn.thebittimes.com/images/2024/03/10/8cb0ff7d5297c08694117d085512d7aa.webp 1024w, https://cdn.thebittimes.com/images/2024/03/10/8cb0ff7d5297c08694117d085512d7aa.webp 300w, https://cdn.thebittimes.com/images/2024/03/10/8cb0ff7d5297c08694117d085512d7aa.webp 768w, https://cdn.thebittimes.com/images/2024/03/10/8cb0ff7d5297c08694117d085512d7aa.webp 1536w, https://cdn.thebittimes.com/images/2024/03/10/8cb0ff7d5297c08694117d085512d7aa.webp 1798w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Crypto market RSI heatmap: MultiversX (EGLD). Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <p class="paragraph">Nevertheless, cryptocurrency investors should still be cautious despite these cryptocurrencies’ strong buy signals. Further, monitoring their Relative Strength Index is crucial to spot future profit-realization opportunities and an inevitable overbought sell signal.</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-strong-cryptocurrencies-this-week-tbt82143.html">https://thebittimes.com/buy-signal-for-2-strong-cryptocurrencies-this-week-tbt82143.html</a></p>

Buy signal for 2 strong cryptocurrencies this week

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