The crypto market continues to collapse with Bitcoin falling to $54,000, according to CoinMarketCap. In this panorama, there are several altcoins that entered “oversold” territory. This is confirmed by the RSI, an indicator that considers the average gains and losses of an asset within a 14-day trading period.

At the time of writing, Bitcoin was down 3.4% in the last 24 hours, while Ethereum was down 3.9% at $2,280. The 2 most oversold altcoins on the market.

Comos (ATOM)

This cryptocurrency is the most oversold in the last 56 hours, with a score of 25.3. ATOM fell 1.6% in the last 24 hours to $3.86. In addition, it has accumulated a loss of 20.5% in the last 30 days and 63.6% so far this year. Valued at $1.506 billion, the altcoin ranks 49th in terms of market capitalization.

Analyst Jonathan Carter agrees that ATOM is in a bearish trend but believes it will turn bullish if it bounces off its support. Additionally, he risked setting a price target of $8.85, more than double its current price.

MultiversX (EGLD)

It is the second most oversold altcoin on the market, with 28.1 points. While some analysts have highlighted its strong fundamentals in the past, the truth is that EGLD sinks 4% in the last 24 hours to $24.3. In parallel, it registers a weekly drop of 14.4% and 66% since the beginning of the year. Expert Justin Bons called MultiversX the “Holy Grail of cryptocurrencies” thanks to its pioneering full sharding implementation. The cryptocurrency currently ranks 83rd in terms of capitalization with a market value of $665 million.

*Remember to do your own research before investing in these altcoins. They are considered risky investments.