Cardano

Biden

Toncoin

Dogecoin

Chainlink

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 <p class="paragraph">Geopolitical tensions between Iran and Israel have put the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency market in a bearish state, as fear escalates worldwide. In this context, two <a rel="noopener noreferrer nofollow" title="cryptocurrencies" href="https://thebittimes.com/tag/cryptocurrencies.html">cryptocurrencies</a> now present an <a rel="noopener noreferrer nofollow" title="oversold" href="https://thebittimes.com/tag/oversold.html">oversold</a> daily Relative Strength Index (RSI), making for a potential buy <a rel="noopener noreferrer nofollow" title="signal" href="https://thebittimes.com/tag/signal.html">signal</a>.</p>
 <p class="paragraph">Israel plans to launch an attack against Iran in retaliation for its drone and missile offensive this past weekend. Amid uncertainties, the crypto and stock markets have been registering record losses since last Friday, affecting relevant technical indicators.</p>
 <p class="paragraph">In particular, cryptocurrencies’ daily Relative Strength Index dropped to an average of 34.32 points, on April 16. Finbold retrieved the RSI average from <em>CoinGlass</em> on the same date, spotting two oversold cryptocurrencies below this level.</p>
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    </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">However, further Iran-Israel escalation could invalidate this buy signal despite the appealing oversold indicator, if the bearish sentiment remains dominant.</p>
 <h2 class="wp-block-heading" id="h-is-cardano-ada-oversold">Is Cardano (ADA) oversold?</h2>
 <p class="paragraph">First, Cardano (ADA) appears below the market’s average, with a 29.69 oversold daily RSI, trading at $0.458. ADA has lost 6% in the last 24 hours, while accumulating more than 22% in losses since April 12, pre-escalation.</p>
 <p class="paragraph">In the meantime, Cardano‘s weekly Relative Strength Index holds a neutral overlook at 44.61, suggesting mid-term consolidation. This, in contrast with the short-term oversold status, suggests ADA could be a potential buy at this point.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="621" src="https://cdn.thebittimes.com/images/2024/04/16/c5be56bb38c2b799397664462a9c330b.webp" alt class="wp-image-169416" srcset="https://cdn.thebittimes.com/images/2024/04/16/c5be56bb38c2b799397664462a9c330b.webp 1024w, https://cdn.thebittimes.com/images/2024/04/16/c5be56bb38c2b799397664462a9c330b.webp 300w, https://cdn.thebittimes.com/images/2024/04/16/c5be56bb38c2b799397664462a9c330b.webp 768w, https://cdn.thebittimes.com/images/2024/04/16/c5be56bb38c2b799397664462a9c330b.webp 1536w, https://cdn.thebittimes.com/images/2024/04/16/c5be56bb38c2b799397664462a9c330b.webp 1796w" sizes="(max-width: 1024px) 100vw, 1024px">
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   <p dir="ltr" style="line-height:1.38;margin-top:0pt;margin-bottom:0pt;" id="docs-internal-guid-328a8251-7fff-8337-66f0-1c79ec4422d3"><span style="font-size:11pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Crypto Market daily RSI Heatmap: ADA. Source: </span><span style="font-size:11pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">CoinGlass</span><span style="font-size:11pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">/Finbold</span></p>
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 <p class="paragraph">A technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> from the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency trader <em>Alan Santana</em> validates this buy <a rel="noopener noreferrer nofollow" title="signal" href="https://thebittimes.com/tag/signal.html">signal</a>, aiming for a bold forecast of over 1,300% gains for the next bull run. On that note, even if ADA does not reach this extremely optimistic <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, it still suggests an incoming price surge.</p>
 <p class="paragraph">Cardano has recently lost its top 10 position by market cap to Toncoin (TON) and, later, to Dogecoin (DOGE). This represents a new challenge for the layer-1 blockchain and direct competitor to Ethereum (ETH) and Solana (SOL).</p>
 <h2 class="wp-block-heading" id="buy-signal-for-chainlink-link">Buy signal for Chainlink (LINK)</h2>
 <p class="paragraph">Second, the leading Oracle blockchain, Chainlink (LINK), has a similar status to Cardano on its daily RSI. Yet, LINK draws for an even lower 24-hour Relative Strength Index of 27.78 after losing 9.2% in the period.</p>
 <p class="paragraph">As of writing, Chainlink’s token trades at $13.24 and offers long-term investors a potentially strong buy signal. Still, short-term performance is uncertain amid geopolitical tensions escalating.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="621" src="https://cdn.thebittimes.com/images/2024/04/16/736365eb2a144368276fffb02d88c141.webp" alt class="wp-image-169417" srcset="https://cdn.thebittimes.com/images/2024/04/16/736365eb2a144368276fffb02d88c141.webp 1024w, https://cdn.thebittimes.com/images/2024/04/16/736365eb2a144368276fffb02d88c141.webp 300w, https://cdn.thebittimes.com/images/2024/04/16/736365eb2a144368276fffb02d88c141.webp 768w, https://cdn.thebittimes.com/images/2024/04/16/736365eb2a144368276fffb02d88c141.webp 1536w, https://cdn.thebittimes.com/images/2024/04/16/736365eb2a144368276fffb02d88c141.webp 1796w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Crypto Market daily RSI Heatmap: LINK. Source: <em>CoinGlass</em>/Finbold
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 <p class="paragraph">Chainlink has seen an increased demand since 2023, due to its properties for collecting off-chain data to decentralized finance (DeFi). This is a powerful use case given the ascension of real-world assets (RWA), fueled by BlackRock’s (NYSE: BLK) tokenization interest.</p>
 <p class="paragraph">Investors now await further developments and news on the Iran-Israel conflict to determine their investment strategies. The geopolitical scenario brings huge risks to the landscape that continues to innovate and grow in its share of mind.</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/buy-signal-for-two-oversold-cryptocurrencies-amid-iran-israel-escalation-tbt85515.html">https://thebittimes.com/buy-signal-for-two-oversold-cryptocurrencies-amid-iran-israel-escalation-tbt85515.html</a></p>

Buy signal for two oversold cryptocurrencies amid Iran-Israel escalation

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