The cryptocurrency market is showing signs of recovery after a period of uncertainty and significant losses. Within this potential recovery, there are two altcoins that are emerging as strong contenders for a rise in value. According to the RSI indicator, these altcoins are about to give a BUY signal.
The first altcoin is Near Protocol (NEAR), which has an interesting setup. Its weekly RSI is at 67.86, and its gaining strength RSI is at 59.93, indicating a BUY signal. NEAR is currently trading at $7.19, with a decrease of 4.23% in the last 24 hours. Near Protocol is considered one of the most promising Web3 infrastructures in the cryptocurrency world. If NEAR’s daily RSI crosses the 60 level, it could experience a strong upward movement.
The second standout altcoin is Render Network (RNDR), according to CoinGlass’s daily RSI heatmap. RNDR is trading at $9.95, with a decrease of 5.20% in the last 24 hours. Its daily RSI is at 65.5, indicating a promising outlook for this altcoin. Similarly, its weekly RSI shows strong momentum at 65, suggesting that the upward trend for the altcoin is continuing.
It’s important to note that the cryptocurrency market is highly volatile, and the situation for these altcoins can change rapidly. A BUY signal could quickly turn into a SELL signal. However, both NEAR and RNDR, being main network assets of strong networks, have the potential to deliver in the long term.
Investors should be aware that cryptocurrencies carry high volatility and risk, and should conduct their own research before making any investment decisions.
