Founder and CEO, Richard Fetyko:

“I have been pounding the table for weeks now about the likely rally for crypto and that’s exactly what’s happened. I don’t have a crystal ball. I’m no magician either. Simply reading the tea leaves…paying attention to the price action. When prices start breaking out of Channel Down and Falling Wedge patterns, which are trend reversal patterns, we can tell there’s strength building in the market. It’s a sign that demand from buyers outweights supply from sellers. Simple as that.”

We don’t need to know why (fundamentals), the price is telling us there’s buying pressure.

We featured ALGO two weeks ago as an example of the brewing rally. (read blog here)

It exploded after that for a nice 45% gain! And that’s just one of many trade setups featured in our Technical Analysis and AI Chart Patterns sections.

ALGO: Channel Down Breakout (+45% Profit)­
HBAR: Channel Down Breakout (+53% Profit)

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So what’s next for the market rally?

Keeping an eye on the RSI indicator, the market is getting a bit overbought (RSI > 70), which typically leads to a pause if not a pullback as traders take profits.

I think it’s gonna be a shallow, brief pullback and then market can still go into overdrive as FOMO kicks in.

I would avoid situations where RSI is very overbought (over 75) and near resistance and is still in a downtrend (based on altFINS’ trend ratings).

Example is Cardano (ADA).

It reached the channel resistance trendline and 200-day Moving Average ($0.75). It’s also near a horizontal resistance of $0.83. Price is still in a Downtrend and is overbought (RSI > 70).

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Use the Screener to see which assets are overbought: