Is It the Right Time to Invest in Altcoins? These Two Altcoins Are in the Buy Zone, According to Santiment Data!
Bitcoin has been experiencing a downward trend recently, and it seems that altcoins are following suit. However, this decline in prices is actually presenting a buying opportunity for investors. Santiment, a popular on-chain platform, has indicated that Bitcoin and some other altcoins are currently in the buy zone.
Santiment’s data reveals that the Relative Strength Index (RSI) for Bitcoin, as well as altcoins like Ethereum (ETH), BNB, Solana (SOL), XRP, Dogecoin (DOGE), Toncoin (TON), Cardano (ADA), Shiba Inu (SHIB), and Avalanche (AVAX), is falling. The RSI levels for these cryptocurrencies are as follows: BTC – 41.3, ETH – 41.5, BNB – 44.8, SOL – 48.7, XRP – 46, DOGE – 49, TON – 55.1, AVAX – 42.6, SHIB – 38.4, and ADA – 32.3.
The RSI is a widely used technical indicator in predicting price movements. It ranges from 0 to 100 and indicates whether an asset is in the overbought or oversold zone. An RSI above 70 suggests overbought conditions, while an RSI below 30 suggests oversold conditions. When the RSI reaches these extreme zones, it signals a potential reversal in price direction.
According to Santiment, Cardano has the lowest RSI among the top cryptocurrencies, making it a potential buy candidate. However, it’s important to note that this information is not investment advice.
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