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Finbold: Which assets should not be traded from January 1 to January 7, 2024
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Finbold: Which assets should not be traded from January 1 to January 7, 2024

Dec 30, 2023

At the end of this year, volatility in the cryptocurrency market is decreasing, and the behavior of many digital coins becomes unpredictable. Analysts from Finbold have identified several assets that should be approached with particular caution during the period from January 1 to January 7, 2024.

In the list of recommendations from Finbold analysts, Binance Coin is at the top, one of the leading cryptocurrencies with a market capitalization exceeding $48.2 billion. Currently, this coin is trading around $320, reflecting a decrease of 3.9% over the last 24 hours. Experts predict a further decline in the value of Binance Coin, based on the Relative Strength Index (RSI) data, which shows high values on the 4-hour chart. This may indicate the asset is overbought, often preceding a downward price correction.

The next asset that caught the analysts' attention is Astar. This coin is currently trading at around $0.1271, showing a price drop of about 0.92% over the past day. Particular attention is paid to the RSI level on the 4-hour timeframe, which is around the 79 mark. Such RSI indicators may suggest the potential development of a bearish trend, making trading this coin risky in the near future.

Also mentioned in the list is the Skale asset, which has lost more than 9.2% in value over the last 24 hours, with a current trading price of about $0.07887. Particularly notable is the high level of the Relative Strength Index for this coin, reaching 92.38. Such RSI values are often interpreted as signs of overbuying in the market, which may herald an imminent price correction. This makes the Skale asset potentially dangerous for trading in the short term.

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