Crypto RSI heatmap shows large spread among top 100 coins

The weekly RSI heatmap of the top 100 cryptocurrencies currently shows a remarkably varied picture. The average RSI stands at 43.64, indicating that the market as a whole has not yet initiated a clear recovery. Most major names are in the weak to oversold territory, while smaller altcoins are moving around considerably.

Majors remain stuck in weak territory

Analyst DaanCrypto points out that most large coins, including Bitcoin and Ethereum, are between 30 and 40 on the weekly RSI. According to him, that level is fairly normal for a bear market or a downward trend like the current one. Bitcoin is currently trading at $63.092. a rise of 3.2% in the past 24 hours, but that does not change the bigger picture for now.

The Coinglass heatmap confirms this picture. Coins like Bitcoin, Ethereum and XRP are clearly in the oversold or weak segment, while a handful of smaller coins such as BEAT, ALLO and GWEI are in the overbought area. That difference between the large and small names makes it a messy market moment.

Altcoins move chaotically, market awaits leadership

Outside the top 10, there is indeed movement, but it is erratic. Some smaller coins shoot up while others sink further. That makes it difficult to read a clear direction. According to DaanCrypto, for the broad market it is ultimately a waiting game for Bitcoin and possibly also Ethereum to point the way up. Without that leadership, most coins will continue a slow bleed.

Meanwhile, the open interest of Ethereum on Binance reaches an all-time high, indicating that large players are active in the market. Whether that is enough to trigger a broader recovery remains an open question for now. The RSI heatmap suggests, in any case, that broad momentum has not yet built up.