Cryptocurrency analysts name 3 tokens to avoid investing in this week

Over the past 7 days, many cryptocurrencies have risen sharply in value. Market indicators point to potential downturns and sharp price fluctuations for 3 digital assets that users should avoid investing in this week.

Analysts emphasized that cryptocurrency markets show high volatility and operate in alternative trends. Therefore, investors should remain cautious with coins that have already accumulated significant profits. In particular, Injective Protocol (INJ), Bluzelle (BLZ), and Unifi Protocol DAO (UNFI) were highlighted as projects to avoid next week, according to the increased RSI values in the overbought zone.

Interestingly, back on October 21, ChatGPT recommended Injective as a top buy. The token’s Relative Strength Index indicates that INJ is overbought, which could trigger a trend reversal. Despite the prolonged bearish trend, the price of Injective (INJ) has increased by more than 930% since the beginning of the year. The market capitalization of INJ is currently $ 1.1 billion. The asset’s daily trading volume hovers around $ 89 million, which is relatively small compared to its market capitalization.

Analysts have suggested that INJ could continue to grow and reach the «golden ratio» at $ 16.2 — currently, the token is trading at $ 14. However, in the event of a correction, it should be borne in mind that Injective has significant support around $ 8.4 and $ 5.6. An additional level of support will be the 50-week EMA, which is located at $ 6.4.

As for the cryptocurrencies worth buying, Finbold analysts have identified 5 tokens based on ChatGPT forecasts. They are: Bitcoin, Ethereum, BNB, Solana, and Cardano.