Crypto Market Stabilizes After Oversold RSI Signals Potential Bounce

Despite brief periods of stabilization, the crypto market remains in a precarious state. A significant drop in trading volumes led to the Relative Strength Index (RSI) reaching oversold territory. This technical indicator suggests that selling pressure may have peaked, potentially paving the way for a short-term rebound. Bitcoin and Ethereum, experiencing modest gains, are struggling to capitalize on this optimism. The market remains under heavy influence from macroeconomic events as investors anxiously await crucial US economic reports. The upcoming data releases could trigger further volatility in crypto markets.