The global cryptocurrency market cap has reached $2.22 trillion, showing a recent 3% increase. Despite the selling pressure on Bitcoin (BTC), a positive divergence on the RSI indicates a potential recovery and a buying opportunity.
The 24-hour market RSI average of 38.29 signals a transitional phase, as per CoinGlass, suggesting that cryptocurrencies with oversold RSI values may be undervalued and set for a price increase, making them attractive for investors seeking to leverage market volatility.
In this context, Finbold has identified Worldcoin (WLD) and Altlayer (ALT) as buy candidates for the week based on their RSI levels and other indicators.
### Worldcoin (WLD)
Worldcoin (WLD) has displayed oversold RSI values across different timeframes, with the 24-hour RSI at 23.55 and the 1-week RSI at 36.29, indicating potential undervaluation and a possible price increase. Priced at $1.8625 with a 0.96% price increase in 24 hours, Worldcoin’s technical indicators, including RSI, Commodity Channel Index, Momentum, and Williams Percent Range, all point towards a buy signal and a favorable momentum for a potential price rebound.
### Altlayer (ALT)
Altlayer (ALT) presents a strong buy opportunity this week due to its oversold status and supportive technical indicators. Priced at $0.13253, ALT has seen a 1.49% price increase in the last 24 hours, signaling the beginning of a recovery phase. With key technical indicators supporting a buy signal and indicating favorable buying conditions, Altlayer’s market conditions offer a promising investment opportunity despite some bearish moving averages.
Both Worldcoin and Altlayer are currently oversold and indicate strong buy signals from various technical indicators. Investors and traders should carefully consider these opportunities while staying alert to market trends and mixed signals. A cautious and well-rounded approach to investing is always recommended.
**Disclaimer:** The information provided does not constitute investment advice. Investing in cryptocurrencies carries risks, and investors should be aware that their capital is at risk.
