The market has been showing consistent growth since the beginning of the year, indicating a renewed interest from investors and a build-up of momentum.
In light of this dynamic landscape, Finbold analyzed the heatmap of the Relative Strength Index (RSI) from CoinGlass as of January 7, highlighting two cryptocurrencies that exhibit strong momentum and potential buy signals.
Render (RNDR)
Render (RNDR) indicates a strong buy signal for traders and investors, driven by a clear bullish momentum and favorable technical indicators. Its 12-hour RSI is at 60.05, significantly above the market average of 46.07, showcasing its outperformance in a predominantly neutral market.
This level suggests a sustained upward momentum without overbought conditions, making it an attractive option for those looking to capitalize on potential profits.
Another point in favor of buying is that 13 out of 19 key moving averages, including the 10-day and 20-day exponential moving averages (EMA), signal a buy, indicating both short-term and long-term growth potential.