Joao Wedson, CEO of cryptocurrency analysis firm Alphractal, outlined their technical assessments of the crypto market. They observed that despite Bitcoin’s price surge, profit-taking hasn’t materialized as expected. According to data from the on-chain profit-taking rate (SOPR), investors are still expecting a significant price increase for Bitcoin. Alphractal CEO further highlighted two key indicators: Altcoin performance is overwhelmingly bearish according to their 24-hour timeframe analysis, marked by a negative MACD indicator. On the other hand, RSI readings suggest some altcoins like TRX, SPX, XMR, GT and even BTC are in overbought territory. In contrast, CTK and Melania’s low RSI values indicate they might be oversold. Wedson pinpointed one coin with potential for an upward trend: RENDER, which is currently in oversold territory and shows strong open interest on the 5-minute to 1-hour timeframe, suggesting whales are actively investing.