6 cryptocurrencies to avoid trading this week
Bitcoin (BTC) has reached a new multi-year high at $45,922 on January 2, 2024. Following its leadership, some cryptocurrencies have been trading at higher prices. While most people wait for strong price action to deploy capital into a given cryptocurrency, smart money avoids trading overextended speculative assets as part of a good risk management strategy. Notably, investors can find cryptocurrencies to avoid trading this week using fundamental and technical analysis. In particular, meme coins with poor fundamentals and ‘overbought’ coins according to the Relative Strength Index (RSI). Avoid trading memecoins in 2024 Memecoins like Dogecoin (DOGE) were initially created as a tool for having fun with digital money. After Elon Musk’s support of DOGE and the surge of Shiba Inu (SHIB), memecoins have become popular among crypto currency traders. Cryptocurrency Top 3 cryptocurrencies of 2023 with the biggest gains of the year Cryptocurrency AI pre...