Sell signal for 2 overbought cryptocurrencies this week

In recent days, the cryptocurrency market has experienced significant volatility, with many assets shifting from overbought to more neutral or oversold positions based on their Relative Strength Index (RSI) readings. 

However, some cryptocurrencies have defied this trend, securing substantial gains while maintaining high RSI levels.

Finbold identified this sell signal using CoinGlass’s momentum indicator, noting that overbought cryptocurrencies typically face the likelihood of retracement

Ethereum Name Service (ENS)

The ENS token is currently trading at $20.82, marking a 4.40% increase in the past 24 hours. The RSI levels indicate high activity: the 1-hour RSI is at 50.03, the 4-hour RSI is at 77.73, the 12-hour RSI is at 76.41, and the 24-hour RSI is at 69.57.

Typically, RSI values above 70 indicate overbought conditions, suggesting a potential sell signal.