The crypto markets appear to have found some stability at their current prices, as many altcoins have been able to continue climbing higher while Bitcoin further solidifies its footing at just under $5,300. The market’s recent price action has been widely viewed as being bullish by analysts and traders alike – many of whom believe that the markets have found a bottom and that the persisting “Crypto Winter” has come to an end.
Despite the bullish buzz surrounding the markets, a technical indicator that has empirically been accurate is now flashing a signal that cryptocurrencies are highly overbought, which could mean that a significant retrace is imminent.
Crypto Markets Continue to Inch Upwards Following Recent Surge
At the time of writing, the overall cryptocurrency market capitalization is $182.8 billion, which is up from its daily lows of $179.4 billion.
Over the past few weeks, the markets have surged in value, climbing from one-month lows of $130 billion to highs of…
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