Buy signal for 2 oversold cryptocurrencies this week
The crypto currency market has started moving again after a low-volume week, with most digital assets trading in a consolidation range. However, some cryptocurrencies register an oversold status due to huge losses suffered in recent weeks. This could create a buying opportunity for the next few days if these projects have strong fundamentals to fuel demand. Notably, Bitcoin’s (BTC) price action evidenced the consolidation range after a downtrend from January 12 to January 22. The leading cryptocurrency slightly recovered from the drop, entering an 8-day consolidation range broken on January 7. As of writing, BTC trades at $45,092, back to its price level three weeks ago, before the short-term downtrend. This movement could propel oversold cryptocurrencies into a bullish trend moving forward. BTC/USD daily price chart. Source: TradingView Buy signal for an oversold XRP Cryptocurrency Ripple dumps 120 million XRP in just 5 days Cryptocurrency ...