The Crypto Market: Anticipated Buy Signals for MANTRA (OM) and Horizen (ZEN)
As a crypto enthusiast, you are probably aware that the global cryptocurrency market cap currently stands at $2.25 trillion, with a minimal 0.2% increase in the last 24 hours. Despite this marginal uptick, market sentiment remains bearish, as reflected by the Crypto Fear & Greed Index plunging into “extreme fear” territory – a level not witnessed since January last year. This pessimism is primarily due to Bitcoin’s struggle to surpass the $60,000 mark, influencing the overall market sentiment.*
MANTRA (OM)
- MANTRA (OM) is displaying strong buy signals, supported by its impressive RSI values and other technical indicators.
- The RSI values for OM across multiple timeframes are encouraging, indicating a growing buying interest.
- Various RSI readings for OM point towards a positive momentum, suggesting potential upward movement.
Technical Indicators for MANTRA (OM)
- The Moving Average Convergence Divergence (MACD) portrays a bullish crossover, indicating an upward price trend.
- Exponential Moving Averages (EMAs) on different timeframes support a strong buy signal for OM.
- Commodity Channel Index (CCI) and Average Directional Index (ADX) also reinforce the bullish outlook for OM.
Horizen (ZEN)
- Horizen (ZEN) is also demonstrating robust buy signals, driven by its technical indicators.
- Short-term RSI values for ZEN indicate oversold conditions, potentially leading to a rebound.
- Various RSI readings for ZEN illustrate increasing buying interest and a steady purchasing trend.
Technical Indicators for Horizen (ZEN)
- The MACD exhibits a bullish crossover, suggesting a probable price upsurge for ZEN.
- EMAs across different timeframes signal a strong buy indication, reinforcing the positive price movement.
- CCI and ADX indicators further support the bullish scenario for ZEN.
Hot Take: Exercise Caution Amidst Volatility
While MANTRA (OM) and Horizen (ZEN) present compelling buy signals based on technical analysis, remember that the cryptocurrency market is volatile. It is crucial to conduct thorough research, including fundamental analysis, before considering any investment decisions. Stay informed and vigilant as you navigate the dynamic crypto space.
By
By
By