Bitcoin is currently in correction mode after shooting from 7000 USD to 10500 USD in little over a month. This gives the market a breather and may be a good time to buy some crypto. In general, BTC dips tend to be good entry points during bull runs because most coins will rebound when BTC continues its rally. The Relative Strength Index (RSI) is a good measure to assess whether a coin is overbought or oversold and any RSI value under 35 is considered a strong buy. The list consists of coins that have a marketcap of at least 50 million USD and have the lowest RSI over the last few days. Leading the pack is Ethereum classic with a RSI of 31, which means that it is strongly oversold. A rebound in the upcoming days is likely. Another coin that is considered to be oversold is Beldex (BDX).
Here we present you the top 10 coins based on RSI:
1. Ethereum Classic (ETC): RSI: 31
Based on the Ethereum system, the Ethereum Classic (ETC) platform is an improved version of its origin, where transactions can be carried out in a decentralized and freeway. Also, it is a collaborative platform where anyone can contribute.
The platform was born at the end of July 2016 following a hack on the Ethereum platform.
2. Beldex (BDX): RSI: 33
Beldex (BDX) is a new crypto ecosystem that has emerged with the sole purpose to resolve some of the main issues that are faced by the cryptocurrency world like usability, liquidity, and privacy.
This is the privacy coin that helps to solve privacy issues. The transaction fees are very low in this exchange platform.
3. Zcoin (XZC): RSI: 37
Zcoin (XZC) is a cryptocurrency primarily dedicated to privacy. This coin allows anonymous transactions, when ZCoins are sent, they are destroyed. It can be spent and destroyed using an RSA cryptographic key to create Zerocoins that are newly minted coins.
Since Zerocoins are new coins, it does not have any transaction history. During a transaction, the Zerocoins are converted back to Zcoins. Since all users convert their currency to Zerocoins, there is no way to confirm which currencies were used to exchange goods.
4. Dash (DASH): RSI: 37.26
Dash is an open-source cryptocurrency. It is an altcoin that was forked from the Bitcoin protocol. This currency can be used to buy goods or services on the Internet, and even to make different kinds of investments as if it were a traditional currency.
5. Bitcoin Gold (BTG): RSI: 38.78
Bitcoin Gold (BTG) was a hard fork of the original open-source crypto that took place on 24th October 2017. This coin is a decentralized digital currency without any financial firm or a central bank that can be sent from user to user on the peer-to-peer Bitcoin Gold network.
6. Augur (REP): RSI: 39.49
Augur is a decentralized and open-source platform, based on Ethereum blockchain technology. As the name implies (Augur), the project revolves around a fundamental idea to predict the future of X markets, events, companies, etc. Those users whose forecast is fulfilled correctly receive a reward in the form of REPs, the cryptocurrency that moves Augur’s network.
7. Synthetix Network Token (SNX): RSI: 40.06
Synthetix is a decentralized protocol which is based on the Ethereum blockchain that allows creating synthetic assets to replicate several real-world assets.
Synthetix Network Token (SNX) is a crypto token and operates on the Ether platform. Since Synthetix Network Token belongs to currencies, whose market value is relatively low, there may be greater price fluctuations compared to established cryptocurrencies. However, the price fluctuation of the main cryptocurrencies is smaller and easier to estimate.
This coin is trading and currently, it is at position 38 on CoinMarketCap with an increase of almost 10%. For the world of Decentralized finance (DeFi) considering that this protocol locks up capital to create new assets.
8. Molecular Future (MOF): RSI: 40.75
Molecular Future (MOF) is a platform which is designed to offer their users’ related blockchain-based products. The main function of the MOF token is a utility token at the core of the Molecular Future platform, which is used as an exchange unit on the platform to purchase digital asset management products and services.
9. IOTA (MIOTA): RSI: 41.04
IOTA can be used on the Internet Of Things (IOT), that is why it is called IOTA. It was based on the Tangle concept that represents a distributed accounting record. According to the developers, it has a large number of advantages compared to the bitcoin blockchain.
10. Flexacoin (FXC): RSI: 42.83
Flexacoin (FXC) is a token without its blockchain. It is developed originally to collateralize retail payment on the Flexa network. Also, it is designed to mitigate the resistance between merchants accepting fiat and customers paying with cryptocurrency.