Three overbought cryptocurrencies to steer clear of this week

crypthub

2 days ago

Market Overview

The crypto market has shown modest rebounds, pushing several tokens into overbought territory where the RSI exceeds 70. An RSI above this level often signals exhaustion and possible short‑term price corrections. Finbold flagged three assets that currently sit in this zone, urging caution for traders.

Enjin Coin and Dusk

Enjin Coin (ENJ) traded at $0.040 with a 24‑hour RSI of 84.16 after a sharp April rally fueled by high spot volume and a short‑squeeze. Dusk (DUSK) rose 4.85% to $0.16, its RSI reaching 77.6 following a major Aegis protocol upgrade that boosted security and compliance. Both tokens show strong momentum but the elevated RSI suggests buyer fatigue may soon set in.

Zcash and Outlook

Zcash (ZEC) priced at $364 with an RSI of 73.21, despite a 1% daily dip, after posting weekly gains over 40% driven by record shielded‑transaction inflows. Institutional interest, including a new mining pool, tightened liquid supply and sparked a breakout from long‑term consolidation. Monitoring RSI declines toward support levels could reveal safer entry points once momentum normalizes.