Do we have to wait for the altcoin season? Analyst: These two coins have buying signals, ready for a big pump?

Do we have to wait for the altcoin season?

As October comes to an end, the cryptocurrency market once again sounds the trumpet of rebound. This year's 'Uptober' market started off sluggish and ended with a big pump, showing investors the astonishing resilience and rebound momentum of BTC ($BTC).

According to CoinGecko's data, Bitcoin rebounded from the low point below $60,000 on October 10th, surging to a high of $73,295, with a weekly increase of nearly 10%.

BTC's Rebound has risen, even challenging historical highs, which has also sparked investors' keen anticipation of the "AltCoin season". Data shows that the relative strength index (RSI) heatmap of the AltCoin market is currently showing a "neutral" but slightly optimistic signal, with a 4-hour average RSI of 54 and a daily candlestick RSI of 49.55.

Despite the neutral market sentiment, there is still no support for a full altcoin bull market, but analysts point out that 2 altcoins have begun to show strong buy signals.

DOGE ($DOGE): short term technical indicator bullish

First up is our meme coin king - dogshitcoin ($DOGE), analysts point out that the short to long-term RSI data of $DOGE shows increasing buying pressure.

Among them, the 15-minute and 1-hour RSI are 43.01 and 44.02, respectively, indicating that $DOGE is still in the neutral zone. However, as the time frame extends, the 4-hour RSI reaches 62.82, the 12-hour RSI climbs to 70.01, and the 24-hour RSI steadily rises to 70.89, indicating that the bullish sentiment in the market is gradually increasing.

Image source: CoinGlass $DOGE RSI data

In addition, the MA of $DOGE also shows a consistent buy signal, with the 10-day moving average of 0.15104 to the 200-day moving average of 0.12058 both rising within the framework, reinforcing the short-to-medium-term rise potential of $DOGE.

Aave ($AAVE): Great Potential for Long-term Holding

The second cryptocurrency is the well-known Decentralization Cryptocurrency lending system - Aave ($AAVE). According to the latest technical indicator analysis by CoinGlass, $AAVE has shown moderate buying pressure in the short term, with 15-minute and 1-hour RSI at 60.05 and 63.9 respectively, indicating that $AAVE still has room for growth in the short term.

In the medium to long term, the 4-hour RSI of $AAVE reached 66.9, and the 12-hour and 24-hour RSIs were 59.33 and 56.2 respectively, indicating that $AAVE has stable buying demand in different time ranges.

Image source: CoinGlass $AAVE RSI data

In addition, the moving average rose from 150.57 on the 10th day to 122.50 on the 200th day, both issuing consistent buy signals, indicating that besides the short-term rise, $AAVE also has medium- and long-term rise potential.

In the consistency of technical indicator and buying pressure, $DOGE becomes an ideal choice for short-term trading, while $AAVE tends to be a more stable choice for medium to long-term positioning.

Whether it's entering in the short term or holding for the long term, investors should allocate their investments based on their risk tolerance and continuously monitor market trends and changes in technical indicators to effectively seize the opportunities brought by this Rebound.

[Disclaimer] The market is risky, and investment needs to be cautious. This article does not constitute investment advice. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific situation. Investing based on this is at your own risk.