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Finbold 2025-01-16 18:09:47

Buy signal for two strong cryptocurrencies this week

The cryptocurrency market continues to show resilience, with the global market cap reaching $3.68 trillion, marking a modest 0.6% increase in the past 24 hours. In this context, two cryptocurrencies are standing out, presenting potential entry points for traders and investors seeking opportunities. Bitcoin ( BTC ) is currently trading around $100,067 after a 4% rally fueled by the latest US Consumer Price Index (CPI) data. Meanwhile, renowned analysts have their eyes on altcoins , forecasting an incoming altseason. Amid this backdrop, Finbold analyzed CoinGlass’s Relative Strength Index ( RSI ) heatmap on January 16, identifying notable buy signals across the cryptocurrency market. With the 12-hour RSI averaging 50.98, several assets are showing strong potential, offering promising opportunities for traders and investors navigating the sector’s persistent volatility. Cardano (ADA) Cardano ( ADA ) is positioning itself as a strong buy this week, backed by robust technical indicators and market momentum. The 12-hour RSI stands at 65.82, well above the market average RSI of 50.98, signaling steady upward movement while staying below overbought territory. ADA Market RSI Heatmap, 12-hour chart: ADA. Source: CoinGlass Shorter time-frame RSIs, such as the 15-minute RSI at 72.29 and the one-hour RSI at 68.7, indicate consistent buying pressure, with values close to the overbought zone. This sustained interest in ADA suggests a continuation of bullish momentum in the short term, as traders are actively entering positions, driving demand upward. Complementing its RSI metrics, all 14 tracked moving averages , from short-term exponential to long-term simple averages, classify ADA as a strong buy. With an 18.19% price increase over the past 12 hours, ADA’s strong technical setup reflects growing market interest, making it a solid choice for traders seeking to capitalize on its momentum and investors looking for near-term gains or strategic accumulation. Stellar Lumens (XLM) Stellar Lumens ( XLM ) is emerging as a strong buy, supported by robust RSI metrics and technical indicators that signal sustained bullish momentum. The 12-hour RSI stands at 68.65, comfortably above the market average of 50.98, reflecting steady upward momentum while leaving room for further growth. XLM Market RSI Heatmap, 12-hour chart: XLM. Source: CoinGlass Shorter time-frame RSIs, including the one-hour RSI at 61.64 and the four-hour RSI at 67.2, highlight consistent buying pressure, showcasing active trader interest in driving demand. Further supporting its bullish case , XLM has recorded a notable 19.3% price increase over the last 12 hours, indicating growing market interest and strong accumulation. All tracked moving averages, from short-term exponential to long-term simple averages, position XLM as a buy. These aligned technical indicators point to XLM’s potential for further upside, making it a compelling choice for traders seeking momentum and investors looking to position themselves for longer-term gains. While RSI provides valuable insights into momentum and potential price movements, relying solely on this indicator can be risky. A comprehensive approach that incorporates additional technical tools, market trends, and fundamental analysis is crucial for making well-informed investment decisions. Featured image via Shutterstock The post Buy signal for two strong cryptocurrencies this week appeared first on Finbold .

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