Two altcoins—Algorand and Decentraland—could be on the verge of major rallies, according to technical analysis.
Recently, the cryptocurrency market has experienced significant turbulence, with Bitcoin (BTC) leading a broad sell-off. After touching $99,690 on Nov. 22, the leading cryptocurrency fell briefly to $90,796 and then rebounded to the current price of $95,435, posting a slight recovery of 0.6% in the last 24 hours.
Given a backdrop of complicated geopolitical tensions, safe-haven assets such as Bitcoin and gold are under selling pressure. This is further exacerbated by growing concerns about Trump’s tariff threats, which increase tension in global markets.
Against this volatile backdrop, we analyzed CoinGlass‘ RSI thermography for potential buy signals.
Two cryptocurrencies in particular, Algorand ($ALGO) and Decentraland ($MANA), have emerged as promising buying opportunities, underpinned by strong technical indicators.
The 12-hour average relative strength index (RSI) stands at 57.03, reflecting balanced market sentiment and moderate momentum in the cryptocurrency sector.
Algorand ($ALGO)
Algorand’s ALGO has shown strong momentum, positioning itself as an attractive option for traders and investors. ALGO’s 12-hour RSI stands out at 69.16, significantly higher than the crypto market average of 57.03.
Crypto market RSI indicator for the ALGO token – Source: CoinGlass
Its weekly RSI of 73.07 further emphasises the bullish momentum, reflecting sustained buying pressure over an extended time frame.
Currently trading at $0.3026, ALGO has shown remarkable price stability, gaining 9.51% in the last 24 hours.
This consistent performance signals a build-up phase, indicating investor confidence rather than speculative trading.
It is important to note that ALGO’s RSI remains below the overbought threshold, suggesting room for further growth without the immediate risk of a pullback. These factors make ALGO a strong candidate for investors seeking a mix of momentum and stability in the current market.
Decentraland (MANA)
Decentraland also has a strong buy signal, supported by a bullish RSI metric that reflects sustained demand and good resistance.
The 12-hour RSI of 63.45 and the 24-hour RSI of 65.9 are well above the market average and signal strong buying interest and momentum.
Thermograph of the crypto market RSI indicator for the MANA token – Source: CoinGlass
The weekly RSI of 63.12 strengthens confidence in its long-term potential, although the one-hour RSI of 42.46 shows short-term consolidation. This period of consolidation represents a strategic entry point for new buyers before the next potential rally.
Despite the heavy price drop of 18.52% in course of 12 hours yesterday, MANA’s RSI metric indicates that it is not yet in oversold territory. This suggests that the decline was more of a market correction than a sign of fundamental weakness. Currently, MANA is up 2.81% to $0.6, remaining an attractive opportunity for investors looking to capitalize on potential recovery and growth.
In a market characterized by volatility and uncertainty, Algorand and Decentraland emerged as notable candidates this week. Both cryptocurrencies feature solid RSI metrics, indicating bullish momentum.
However, it is crucial to recognize that short-term market fluctuations can affect their trajectories. Investors are advised to be cautious, conduct thorough research, and ensure that their investment strategies align with their risk tolerance and long-term financial goals.
Beyond Algorand and Decentraland: How One Meme Coin is Changing the Sector for the Better
Investors looking to diversify their portfolios should consider small, prudent allocations towards a potentially explosive new meme coins.
The weird and wonderful world of micro-cap meme coin ICOs (aka presales), where many new species of meme coin are just launching, offers investors a chance to buy into projects before they hit the open market. This means for those willing to take the risk, they can get some sweltering and often unrivalled upside potential.
One new offering that is raising the roof is Crypto All-Stars. It has collected over $6.6 million in presale investments as meme coin fans pile in to take advantage of its alluring and useful premise. It hopes to change the negative perceptions around meme coins by enabling crypto fans to put their digital funny tokens to work and generate yield.
Central to the platform is a bit of software called the MemeVault protocol, which already integrates some of the the world’s biggest meme coins, with more coming later, according to the team.
Users can currently stake Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Brett, MogCoin, Milady, TurboToken, Toshi The Cat, Coq Inu, and BonkCoin in the MemeVault to earn passive income.
The current reward rate for staking these coins is an impressive 306% in the form of $STARS.
Following the purchase, investors can begin staking for rewards and claim the tokens once the presale ends.
Head to the website to buy $STARS with ETH, USDT, BNB, or even by card. Although investors have a limited amount of time to decide, because the presale ends in three weeks!
Follow Crypto All-Stars on social media – X (Twitter) | Telegram to stay up-to-date on all the developments.
Visit the Crypto All-Stars Presale Website Here
The post Charts Show Strong Bullish Signals For These Two Altcoins In The Next Week appeared first on Cryptonews.
