Strong Buy Signals for Monero and THORChain: Time to Invest or Wait?
Top Buy Signals for 2 Recuperating Cryptocurrencies This Week
Cryptocurrencies have registered massive gains in the past seven days, most of which have reached an overbought status. However, the cryptocurrency market has its laggards, now recovering from weak price action and gaining momentum.
Strong Buy Signal for Monero (XMR)
Monero (XMR) is recovering from a huge drop as low as $100 in early February, following bearish news. On that occasion, Binance announced the delisting of the leading privacy coin, surprising the market that panic-sold XMR.
THORChain (RUNE)
THORChain (RUNE) is another cryptocurrency with solid fundamentals and significant recovery, but it is still lagging behind the market. Interestingly, RUNE is now above the neutral-50 weekly RSI, with shy gains of nearly 4% in this time frame.
Trading at $5.61, THORChain’s daily RSI also shows a growing momentum that traders could interpret as a buy signal. On the other hand, the buy signal could be invalidated if these two recovering cryptocurrencies fail to embrace the momentum.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.