Investors Analyze Altcoins Based on RSI Values: Key Insights

Investors are analyzing altcoins based on their Relative Strength Index （RSI） values to identify buying opportunities. This article provides key insights into promising altcoins.

Points

• MANTRA （OM） and Horizen （ZEN） show strong buying signals.
• OM’s high RSI suggests potential upward movement.
• ZEN’s RSI indicates recovery potential from oversold conditions.

While the volatile price movements in cryptocurrencies continue, CoinGlass’s Relative Strength Index （RSI） heatmap on July 12 provided important information about some potential altcoins. The overall market RSI average remains at 40.046 today, staying below neutral. Despite this, some cryptocurrencies’ RSI values and technical outlooks may be giving buying signals.

MANTRA （OM） stands out as a promising altcoin with strong buying signals. The RSI values for OM across different time frames suggest a strong outlook. The 15-minute RSI stands at 48.11, the 1-hour RSI at 50.06, and the 4-hour RSI at 60.68, indicating increasing buying pressure. Notably, the 12-hour RSI is 67.25, while the 24-hour RSI is 64.76. The weekly RSI value of 80.98, which is high even for overbought conditions, might be viewed as a buying opportunity despite a 2.62% drop in the last 24 hours.

Following a recent decline, OM continues to attract buyers at the $1.07 level. The market cap is currently at $888 million, although the 24-hour trading volume has dropped by 51% to $81.6 million.

Horizen （ZEN） also displays strong buying pressure in the market. The short-term RSI values for ZEN, starting with the 15-minute one, showed 34.98, while the 1-hour indicators were 32.02, indicating a sell zone. This suggests that ZEN might escape from overselling and potentially rise in the coming days. The 4-hour RSI showed 46.65, while the 12-hour RSI value was approaching the overbought zone at 60.7. The 24-hour RSI value for ZEN was 61.4, and the 7-day value was 52.5, staying above neutral. Despite a 12% drop in the last 24 hours, the RSI values continue to suggest a potential recovery.

After the price drop, ZEN fell below $10 and found buyers at the $9.52 level. The market cap for ZEN also dropped similarly to $143 million. The trading volume remained relatively stable, with only a 3% decrease to $23 million.

解説

• Promising Altcoins: MANTRA （OM） and Horizen （ZEN） exhibit strong buying signals based on their RSI values, indicating potential price recoveries.
• RSI Analysis: OM’s high weekly RSI and ZEN’s short-term RSI suggest increasing buying pressure and potential recovery from oversold conditions.
• Market Cap and Volume: Despite recent price declines, both altcoins have maintained significant market caps and trading volumes, indicating ongoing investor interest.
• Volatility and Opportunities: The volatile nature of the cryptocurrency market presents opportunities for strategic investments based on RSI indicators.
• Future Outlook: Investors should monitor RSI values and market conditions to identify potential buying opportunities and make informed decisions.