As the crypto market finally taps into the “Uptober” phenomenon, some cryptocurrencies have shown strong buy signals, indicating an ideal time to open positions ahead of an even further upward trajectory. The two cryptocurrencies on the radar at this time are Dogecoin (DOGE), and Aave (AAVE). Both tokens have displayed bullish momentum with increasing investor interest, making them key assets to watch.
According to on-chain data, Dogecoin’s short-term outlook reflects a relatively neutral position, depicted by its 15-minute and one-hour RSI (Relative Strength Index) of 43.01 and 44.02 respectively. This suggests more room for increased buying pressure. However, looking at the longer timeframe, the RSI gains significant strength. Notably, its four-hour RSI reached 62.82, and 70.01 on the 12-hour. Moreover, the RSI reached 70.89 on the 24-hour intervals. Thus, all key metrics point to a “buy” signal, underscoring its potential for continuous gains.
Similarly, Aave (AAVE) has shown positive prospects with its technical indicators. According to fresh data, Aave’s 15-minute and one-hour RSI points at 60.05, and 63.9 respectively. This demonstrates moderate buying pressure without venturing into the overbought zone. If positive sentiment continues, then Aave is posed for a further upward trajectory.
In the longer timeframe, the four-hour RSI stands at 66.9, indicating a bullish momentum, underscoring Aave’s potential to break out in the mid-term. Also, its 12-hour and 24-hour RSI points to 59.33 and 56.2 respectively, showing steady buying interest. Ultimately, DOGE and AAVE display strong buy signals, and together they offer an opportunity for traders to profit from short-term momentum.
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Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.