Cryptocurrency

Terra Classic

Terra

<div class="finbold">
 <p class="paragraph">The cryptocurrency market slightly recovered on January 26 after two weeks of poor performance following the Bitcoin spot ETF approval.</p>
 <p class="paragraph">Amid signs of hope for crypto investors, technical and fundamental analyses suggest speculators should avoid trading four cryptocurrencies next week. Essentially, the following cryptocurrencies are currently riskier bets than other projects.</p>
 <p class="paragraph">In this context, <a rel="noopener noreferrer nofollow" title="avoid" href="https://thebittimes.com/tag/avoid.html">avoid</a>ing <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> riskier projects helps protect investors in an already uncertain and highly volatile market. Traders interested in these <a rel="noopener noreferrer nofollow" title="cryptocurrencies" href="https://thebittimes.com/tag/cryptocurrencies.html">cryptocurrencies</a> can wait for better opportunities in a clearer scenario.</p>
 <p class="paragraph">Particularly, Finbold spotted UMA (UMA), Dusk (DUSK), Terra Classic (LUNC), and Terra (LUNA) as <a rel="noopener noreferrer nofollow" title="cryptocurrencies" href="https://thebittimes.com/tag/cryptocurrencies.html">cryptocurrencies</a> to <a rel="noopener noreferrer nofollow" title="avoid" href="https://thebittimes.com/tag/avoid.html">avoid</a> <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> next week.</p>
 <h2 class="wp-block-heading" id="h-uma-uma">UMA (UMA)</h2>
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 <p class="paragraph">Currently, only two cryptocurrencies have an overbought Relative Strength Index (RSI) status, according to <em>CoinGlass’s</em> 24-hour heatmap. The first is UMA, an oracle blockchain competing with Chainlink (LINK), trading at $5.41 by press time.</p>
 <p class="paragraph">Interestingly, UMA surged by 15.7% in the past 24 hours, which placed the token in the overbought zone. Besides the 74.62 24-hour RSI points, UMA is also overbought in the weekly time frame with 86.21 points.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="496" src="https://cdn.thebittimes.com/images/2024/01/26/94db2fd6efef826ff75bd15d3bf2e6ff.webp" alt class="wp-image-151480" srcset="https://cdn.thebittimes.com/images/2024/01/26/94db2fd6efef826ff75bd15d3bf2e6ff.webp 1024w, https://cdn.thebittimes.com/images/2024/01/26/94db2fd6efef826ff75bd15d3bf2e6ff.webp 300w, https://cdn.thebittimes.com/images/2024/01/26/94db2fd6efef826ff75bd15d3bf2e6ff.webp 768w, https://cdn.thebittimes.com/images/2024/01/26/94db2fd6efef826ff75bd15d3bf2e6ff.webp 1536w, https://cdn.thebittimes.com/images/2024/01/26/94db2fd6efef826ff75bd15d3bf2e6ff.webp 1992w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   UMA: Crypto market RSI heatmap. Source: <em>CoinGlass</em>
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 </figure>
 <h2 class="wp-block-heading" id="dusk-dusk">Dusk (DUSK)</h2>
 <p class="paragraph">Second, Dusk looks overbought in all the three monitored time frames by <em>CoinGlass</em>, with around 77 RSI points. The low-cap token jumped 14.66% in the last 24 hours, trading at $0.28, and risks a correction soon.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="496" src="https://cdn.thebittimes.com/images/2024/01/26/25ab9c35baa073350479993c7677f083.webp" alt class="wp-image-151482" srcset="https://cdn.thebittimes.com/images/2024/01/26/25ab9c35baa073350479993c7677f083.webp 1024w, https://cdn.thebittimes.com/images/2024/01/26/25ab9c35baa073350479993c7677f083.webp 300w, https://cdn.thebittimes.com/images/2024/01/26/25ab9c35baa073350479993c7677f083.webp 768w, https://cdn.thebittimes.com/images/2024/01/26/25ab9c35baa073350479993c7677f083.webp 1536w, https://cdn.thebittimes.com/images/2024/01/26/25ab9c35baa073350479993c7677f083.webp 1992w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   DUSK: Crypto market RSI heatmap. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="avoid-trading-the-cryptocurrencies-lunc-and-luna-next-week">Avoid trading the cryptocurrencies LUNC and LUNA next week</h2>
 <p class="paragraph">In the meantime, traders should also avoid trading Terra Classic and Terra for fundamental event-driven reasons. Both tokens have experienced a downfall since December 2023, entering a weak momentum in the RSI.</p>
 <p class="paragraph">Notably, LUNC alone wiped $1 billion from its capitalization in nearly two months. On Sunday, documents revealed Terraform Labs filed for bankruptcy, affecting investors’ confidence in the related assets.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="661" src="https://cdn.thebittimes.com/images/2024/01/26/5ede78c0b21d8bca779a69a7c3bea058.webp" alt class="wp-image-151483" srcset="https://cdn.thebittimes.com/images/2024/01/26/5ede78c0b21d8bca779a69a7c3bea058.webp 1024w, https://cdn.thebittimes.com/images/2024/01/26/5ede78c0b21d8bca779a69a7c3bea058.webp 300w, https://cdn.thebittimes.com/images/2024/01/26/5ede78c0b21d8bca779a69a7c3bea058.webp 768w, https://cdn.thebittimes.com/images/2024/01/26/5ede78c0b21d8bca779a69a7c3bea058.webp 1536w, https://cdn.thebittimes.com/images/2024/01/26/5ede78c0b21d8bca779a69a7c3bea058.webp 1875w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   LUNC and LUNA daily price chart. Source: <em>TradingView</em>
  </figcaption>
 </figure>
 <p class="paragraph">Nevertheless, it’s important to understand that the cryptocurrency market’s unpredictability could play in their favor. If these cryptocurrencies manage to absorb enough demand, they may experience value appreciation even under these conditions. Thus, investors must do their own research and make thoughtful decisions to thrive.</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/4-cryptocurrencies-to-avoid-trading-next-week-tbt77875.html">https://thebittimes.com/4-cryptocurrencies-to-avoid-trading-next-week-tbt77875.html</a></p>

4 cryptocurrencies to avoid trading next week

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