Cryptocurrency

Injective

<div class="finbold">
 <p class="paragraph">The <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency market has started moving again after a low-volume week, with most digital assets trading in a consolidation range. In this context, Finbold looked for sell <a rel="noopener noreferrer nofollow" title="signal" href="https://thebittimes.com/tag/signal.html">signal</a>s in <a rel="noopener noreferrer nofollow" title="overbought" href="https://thebittimes.com/tag/overbought.html">overbought</a> <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies.&nbsp;</p>
 <p class="paragraph">Despite the overall consolidation, some projects have maintained a strong momentum, leading to an overbought status. If these projects face challenges or a trend shift, this could create a selling opportunity for the next few days.</p>
 <p class="paragraph">Notably, the total <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> market cap evidences the recent surge, adding nearly $160 billion in value since January 23. It marks a 10.53% increase in <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency until February 8, by press time.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="661" src="https://cdn.thebittimes.com/images/2024/02/09/01039430e37de4d0db999514f8731ca1.webp" alt class="wp-image-153994" srcset="https://cdn.thebittimes.com/images/2024/02/09/01039430e37de4d0db999514f8731ca1.webp 1024w, https://cdn.thebittimes.com/images/2024/02/09/01039430e37de4d0db999514f8731ca1.webp 300w, https://cdn.thebittimes.com/images/2024/02/09/01039430e37de4d0db999514f8731ca1.webp 768w, https://cdn.thebittimes.com/images/2024/02/09/01039430e37de4d0db999514f8731ca1.webp 1536w, https://cdn.thebittimes.com/images/2024/02/09/01039430e37de4d0db999514f8731ca1.webp 1876w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Crypto total market cap daily chart. Source: <em>TradingView</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-sui-network-sui-is-overbought">Sui Network (SUI) is overbought</h2>
 <p class="paragraph">In particular, Finbold spotted an overbought Sui Network (SUI) at <em>CoinGlass</em>’s weekly Relative Strength Index (RSI) heatmap on February 8.</p>
 <div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8">
  <div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto">
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2024/02/09/fe621c9e3ea9c6f9a8b71eb3909fc598.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="buy-signal-for-2-oversold-cryptocurrencies-this-week">Buy signal for 2 oversold cryptocurrencies this week</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2024/02/09/09453cfe1f962d0b793942ac121486ee.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="3-cryptocurrencies-to-avoid-trading-next-week">3 cryptocurrencies to avoid trading next week</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2024/02/09/f4afb2dd29ff787fa298154d9c25ebc5.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="injective-set-to-unlock-150-million-in-tokens-what-s-next-for-inj-token">Injective set to unlock $150 million in tokens; What’s next for INJ token?</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2024/02/09/86f535dd3ecef8e6ab6c27c3aa67ca41.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="3-cryptocurrencies-to-avoid-trading-next-week">3 cryptocurrencies to avoid trading next week</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2024/02/09/19ae3ffbf16ace0a6a8b29587fd85786.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="top-3-altcoins-to-watch-now">Top 3 altcoins to watch now</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </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>
 <p class="paragraph">The SUI token currently has the highest weekly RSI in the market, creating a relevant sell signal at these prices. As of writing, Sui is trading at $1.51, up 3.16% in seven days but with a 79.64 overbought RSI.</p>
 <p class="paragraph">Moreover, it also shows weakness in all other time frames except for the daily RSI. This short-term weakness could suggest a trend reversal at any moment for the Sui Network digital asset.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="502" src="https://cdn.thebittimes.com/images/2024/02/09/3435a439936a8f9e895db711bc951f60.webp" alt class="wp-image-153995" srcset="https://cdn.thebittimes.com/images/2024/02/09/3435a439936a8f9e895db711bc951f60.webp 1024w, https://cdn.thebittimes.com/images/2024/02/09/3435a439936a8f9e895db711bc951f60.webp 300w, https://cdn.thebittimes.com/images/2024/02/09/3435a439936a8f9e895db711bc951f60.webp 768w, https://cdn.thebittimes.com/images/2024/02/09/3435a439936a8f9e895db711bc951f60.webp 1536w, https://cdn.thebittimes.com/images/2024/02/09/3435a439936a8f9e895db711bc951f60.webp 1998w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Crypto market RSI heatmap, weekly SUI. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="sell-signal-for-injective-inj">Sell signal for Injective (INJ)</h2>
 <p class="paragraph">Another potentially overbought cryptocurrency is Injective (INJ). The token has a 72.25 weekly RSI, trading at $32.82 and up 1.44% by press time. Like SUI, Injective signals a trend reversal with its low time frame RSIs.</p>
 <p class="paragraph">Interestingly, other cryptocurrencies have higher RSI points in the seven-day time frame. However, INJ has the highest divergence between its weekly status and the short-term indicators – all below the market’s average.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="502" src="https://cdn.thebittimes.com/images/2024/02/09/84869d552087d6a1fed28577a34e668a.webp" alt class="wp-image-153996" srcset="https://cdn.thebittimes.com/images/2024/02/09/84869d552087d6a1fed28577a34e668a.webp 1024w, https://cdn.thebittimes.com/images/2024/02/09/84869d552087d6a1fed28577a34e668a.webp 300w, https://cdn.thebittimes.com/images/2024/02/09/84869d552087d6a1fed28577a34e668a.webp 768w, https://cdn.thebittimes.com/images/2024/02/09/84869d552087d6a1fed28577a34e668a.webp 1536w, https://cdn.thebittimes.com/images/2024/02/09/84869d552087d6a1fed28577a34e668a.webp 1998w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Crypto market RSI heatmap, weekly INJ. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <p class="paragraph">Understanding this extreme-strength indicator is vital for investors looking to sell signals.</p>
 <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.</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>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/sell-signal-for-2-overbought-cryptocurrencies-this-week-tbt79317.html">https://thebittimes.com/sell-signal-for-2-overbought-cryptocurrencies-this-week-tbt79317.html</a></p>

Sell signal for 2 overbought cryptocurrencies this week

목차

TheBitTimes

2024년 2월 8일에 게재된 다른 기사

ARK 21Shares revamps Ethereum ETF proposal with cash creation model and staking plan

Why is the Crypto Market Up Today? Here Are the Top Reasons

Disney Invests $1.5 Billion in Epic Games for Metaverse-Like Gaming and Entertainment Universe

Grayscale’s Bitcoin ETF Must Slash Fees Or Lose Share To BlackRock And Fidelity Funds With Compet...

Chinese Bitcoin Miners Seek New Horizons in Ethiopia Amid Cheap Electricity

Flare and Polkadot bullish, Pullix lists on CoinGecko ahead of launch

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!