Rumble Kong League is a blockchain-based mobile 3x3 basketball game. Players use NFT characters to compete and rank in an online sports league.

Interested in fast-paced basketball games with exciting rewards? 

 attempts to combine the world of sports gaming with cryptocurrency technology. This entertaining concept takes the play-to-earn aspect of 

 and adds more complex gameplay with a focus on sports culture. 

 certainly stands out from other web3 games, which tend to be based on RPGs, shooters or card games. But can it attract users? To see whether this game will likely be the next big thing, here's what you need to know.

 is a blockchain-based mobile basketball game. Players use 

 characters to compete in 3x3 basketball matches and rank in an online sports league. The game involves a blend of strategy and skill, and league winners can earn impressive prizes.

 has been in development since 2021, when it was first created by Marcus Blasche and Nick Vale. Blasche has worked with Activision Blizzard and Wargaming, while Vale is a veteran of indie gaming. Intrigued by the potential applications of blockchain technology, the two decided to create a complex and engaging web3 game. 

 has obtained numerous prestigious backers, raising over 

 from JDS Crypto, Animoca Brands, IDEO CoLab Ventures and others. Moreover, the game is being promoted by NBA stars Stephen Curry and Paul George. The 

development team also includes acclaimed muralists, algorithmic trading experts and experienced software developers. 

What Does Rumble Kong League aim to achieve?

Rumble Kong aims to create a complex, in-depth blockchain sports game. Many web3 games are simple “clickers” that rely on basic mechanics, such as drawing cards and automatically generated artwork. However, Rumble Kong's creators wanted to create a game that felt more like traditional basketball. The game's development period was longer than usual, due to its broad range of mechanics and distinctive art style. 

. By incorporating real NBA players in its promotion, 

 believes it can attract more customers. Instead of just relying on word-of-mouth praise from web3 fans, it plans to reach out to traditional sports fans and esports gamers. 

 is primarily a game, it’s also an advanced gaming ecosystem running on a multisport platform that will eventually encompass multiple games. Account holders receive access to Athlos, a digital 

 city with a street for each gaming brand and athlete experience. 

The content and interface that users experience are run by traditional software, similar to standard AAA games. However, the ecosystem has a blockchain background that provides more technical services, such as tracking player points and storing player assets. 

Initially, there were plans to run the game’s network on Avalanche, but after considering its options, 

, an Ethereum sidechain specifically designed for gaming that offers particularly low fees and fast transactions. 

 provides the following exciting features for players to enjoy.

 is similar to that of a basketball game. Teams of three try to shoot baskets and score points, and players can be default characters or special NFTs with unique abilities. As you play, you can choose between individual actions, such as passing the ball, sprinting, blocking shots and shooting. In addition to playing matches, users can watch tournaments, interact with each other socially and design player-created content.

The Rumble Pass lets players join a seasonal progression system. Once you sign up for this features, you're guided through a broader narrative. As you win matches, you unlock exclusive quests. Fulfilling all the requirements of the Rumble Pass gets you exclusive rewards and loot boxes. Rumble Pass is essentially the casual mode of 

, so you can play for fun instead of competing in serious league games.

 uses NFTs for a variety of purposes. Players who own NFT characters can equip them with special on-court abilities. Brand collaborators, such as Gatorade and Under Armour, also offer special NFT collections that provide branded gear for their characters. Currently, 

 has spent the past four years developing and designing its game and recruiting reputable spokespeople like NBA stars Stephen Curry and Paul George. Now that it's successfully completed several beta tests and a soft launch of its gaming system, 

, with plans to add the FAME token and other related services to the game throughout the spring of 2025. 

Once the league system, FAME rewards and game stores are all launched, 

 will be expanding its game with exclusive quests. Eventually, it plans to branch out and add more sports-themed games centered around games such as American football.

Before the FAME token launched on Mar 11, 2025, 

 to its dedicated players. People who participated in activities like the Sigma League and earned points had their in-game FAME points translated into FAME cryptocurrency. Those who had participated in the SocialFi campaign online were also eligible for the airdrop. All they needed to do was visit the 

 website and connect their wallet to automatically get tokens added. 

FAME stands for "The Future of Athletics, Media and Entertainment," and it's the token used for everything from rewarding plays for completing exclusive quests to buying items in the online shop. The token is an Ethereum-based coin with a 

 that will be distributed to six different parties:

While there’s not yet any pricing history for the incipient FAME token, it can be helpful to take a look at the pricing history for 

 NFTs, which have a floor price of around $300 and an 

 has usually sat in the middle of the market. 

Likewise, the company's FAME coin is unlikely to be as pricey as a token like Bitcoin, or as cheap as a typical meme coin. It will most likely start out with a price in the range of a few cents, and may increase in value if it can generate enough hype.

Currently, pre-market trading sites have FAME sitting at around $0.02, which may provide a good estimate of the coin's launch price. FAME does feature a high total supply, however, which may bring prices down a little as more coins are released.

No one can guarantee FAME's debut price, but this hasn't abated crypto influencers’ excitement. Thanks to the game's ties to Animoca Brands, Stephen Curry and other prestigious names, it's already attracting people who are interested in sports culture. For most new coins, this sort of online buzz is a good thing. It can often indicate higher prices when a coin eventually launches. Furthermore, the token has a lot of utility, since FAME rewards are such a big part of the game. This type of utility usually helps to stabilize coin prices.

However, keep in mind that FAME is still untested at this point. 

has been in development for a while without actually releasing a coin, and its soft launch is still ongoing. Furthermore, the crypto market as a whole has been experiencing some insecurity lately. Since it's impossible to predict how volatility will affect FAME, make sure to avoid overextending yourself and putting too much of your portfolio into FAME. As always, be sure to 

 has the potential to create a truly entertaining sports game for basketball fans. This impressive ecosystem is backed by NBA stars such as Stephen Curry and includes some exciting gameplay options. 

 has already had some success with its Sigma League and soft launch, and the upcoming release of the FAME token signifies more big things for the brand. 

Intermediate

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Rumble Kong League (FAME): Slam-dunking into esports with Ronin

Thailand’s SEC has approved USDT as a regulated cryptocurrency, allowing trading on local exchanges starting March 16. 

Daily top performer — IOST Network (IOST)

The S&P 500 fell by 2.7%, hitting a multi-month low as recession fears and tech selloffs weighed on markets. Investors are awaiting US inflation data for further insights. Gold remained below $2,900, with further declines likely as investors await US CPI data and the BoC rate decision. The Coindesk Indices, which tracks the broader crypto market, fell by 6.32%, with Bitcoin and Ether down by 4.44% and 8.66% in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today’s top performer is IOST, which surged 27.6% following the IOST Airdrop Campaign Details.

IOST Network (IOST), launched in 2019, uses "Proof-of-Believability" to enhance scalability. It expanded into DeFi, NFTs, and plans a decentralized stablecoin to strengthen its ecosystem. 

, distributing 852.8M tokens (4% of supply) to eligible holders. Users with at least 1,000 IOST by March 15, 2025, qualify. Distribution will occur over 48 months, with details varying by platform. More participants may be added. Stay updated via 

Check out the latest prices, charts, and data of 

 as a regulated cryptocurrency, allowing trading on local exchanges starting March 16. The move enhances flexibility in digital asset businesses and reinforces Thailand’s position as a crypto-friendly jurisdiction. With USDT accounting for 40% of local trading volume, the approval supports market modernization and stablecoin adoption.

Yesterday, BTC spot ETFs saw $189.2M in outflows, with GBTC losing $20.6M and non-GBTC funds shedding $168.6M.

 is set for April, marking a major milestone for the Web3 gaming platform. Leading up to TGE, key events include Launchpool #3 (March 17–31), the Community Airdrop (March 10–31) for Mystery Marble (MM) holders, and Airdrop Season 3 (March 17–April), allocating 1% of total supply. Users can earn SQUAD Coins through pre-launch events and weekly challenges. Stay tuned for more updates as GOMBLE expands its gaming ecosystem.

Beginner

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Thailand SEC approves USDT trading to boost crypto adoption

bbSOL HODLverse is a staking rewards event that allows Bybit users to earn LAYER tokens by holding bbSOL in their Bybit Exchange and/or Bybit Web3 Wallet.

The world of crypto staking continues to evolve, offering innovative ways for users to earn passive income. One such opportunity is bbSOL HODLverse, an exclusive week-long event during which users can hold 

 and earn LAYER tokens without additional effort. With a 2,000,000 LAYER prize pool, participants can accumulate rewards simply by holding bbSOL in their Bybit Exchange account and/or 

In this article, we’ll explore what this event is all about, learn how you can obtain bbSOL and participate and help you decide whether to join this campaign.

Running from Mar 11, 2025, 12AM UTC through Mar 20, 2025, 11:59PM UTC, 

 is a staking rewards event that allows Bybit users to earn LAYER tokens by holding bbSOL in their Bybit Exchange and/or Bybit Web3 Wallet. 

The concept behind bbSOL HODLverse is simple: the more bbSOL you hold, the greater your share of the LAYER airdrop. To understand the mechanics of the event, let’s break it down step by step:

Now that you have a better understanding of how the event works, learn below how to earn your share of the 2,000,000 LAYER prize pool.

As outlined previously, you have two ways to participate in bbSOL HODLverse: hold bbSOL in your Bybit Exchange account, and/or your Bybit Web3 Wallet.

Before you can get started with this event, you’ll first need to create a Bybit account, and then ensure that you’ve already obtained bbSOL. If you don’t already have an account with Bybit, you can follow our sign-up guide 

How to obtain bbSOL with Bybit On-Chain Earn

: Log in to your Bybit account and hover your cursor over the 

: Indicate the amount of SOL you’d like to stake/amount of BBSOL you’d like to receive, and ensure that all fields are filled in correctly before clicking 

Congratulations! You’re now holding bbSOL.

: Log in to your Bybit account and navigate to the Spot trading platform by hovering your cursor over the 

: Search for the available bbSOL Spot trading pairs by hovering your cursor over the three horizontal lines.

: Choose your preferred bbSOL Spot trading pair (

), and input the amount you’d like to purchase in the trading pane on the right side. Once you’ve filled in the necessary details, click on 

How to check rewards if you have bbSOL in your Bybit Exchange account

 and scroll down until you see the snapshot. 

Here, you’ll be able to see the snapshot amount of your bbSOL holdings each day, as well as the estimated number of LAYER tokens you’re eligible to receive.

Navigate to the Bybit Web3 homepage and connect your Web3 Wallet by clicking on the 

 button on the top right corner of the page.

Once you’ve connected your Bybit Web3 Wallet, hover your cursor over the 

Enter the amount of SOL you would like to purchase in the order pane on the right side of the page, and click on 

Once you’ve purchased SOL, hover your cursor over the 

On the right side of the page, indicate the amount of SOL you would like to stake and click 

Congratulations, you’ve obtained bbSOL!

How to check rewards if you have bbSOL in your Bybit Web3 Wallet

. Alternatively, you can also choose to navigate to the 

tab and you’ll be able to see your bbSOL holdings, as well as the estimated LAYER rewards you’ll be able to receive.

Participating in bbSOL HODLverse is an attractive option for users who are already staking SOL or holding bbSOL. This event provides an easy opportunity to earn additional LAYER tokens without requiring extra effort or active trading. Furthermore, you don’t have to manually register for the event; as long as you’re holding bbSOL during the event period, you’ll be eligible!

One of the biggest advantages of bbSOL HODLverse is that it offers a passive way to earn crypto rewards. Since rewards are distributed based on daily snapshots of holdings, there’s no need to actively trade or stake beyond simply holding bbSOL. In addition, unlike traditional staking programs, there’s also no lockup period, meaning users are free to withdraw or trade their bbSOL at any time during the event.

Overall, bbSOL HODLverse stands out as a hassle-free way to maximize rewards while maintaining full control over your holdings. With no additional requirements beyond holding bbSOL, it offers a flexible and low-risk opportunity for participants to earn LAYER tokens. 

bbSOL HODLverse is a straightforward and rewarding event for Bybit users looking to maximize their crypto holdings. By simply holding bbSOL, participants gain access to a 2,000,000 LAYER prize pool, with no complex staking requirements.

With automatic daily snapshots, effortless participation and seamless reward distribution, bbSOL HODLverse offers you a passive and low-risk way to earn crypto rewards. If you qualify for participation, it’s a great opportunity to grow your portfolio.

bbsol hodlverse.png

How to participate in bbSOL HODLverse

Cardano Spot ETF approval would signal ADA’s integration into mainstream finance, mirroring BTC and ETH's paths. Learn more here.

Grayscale Investments, in its latest bid to expand its crypto-focused portfolio, has filed for a 

 (ETF). Now under the SEC’s review, the proposal has the potential to thrust ADA into the spotlight of mainstream finance. It promises to provide regulated exposure to Cardano’s market value, offering a gateway for traditional investors to tap into the growing cryptocurrency ecosystem. As the SEC reviews the application, investor optimism is rising, and ADA has already experienced notable price surges. 

This article explores how this move could redefine Cardano’s future, connecting the world of decentralized innovation with traditional financial markets and positioning ADA as a key player in the fast-paced digital economy.

A Cardano Spot ETF is an investment vehicle that directly holds Cardano (ADA) tokens and mirrors their market price, empowering investors to capture Cardano’s value without the complexities of buying and managing the cryptocurrency directly

A Cardano Spot ETF would provide direct exposure to Cardano (ADA) by holding the underlying cryptocurrency itself, rather than derivatives or futures contracts, in order to capture ADA’s market performance in a secure, regulated framework. This innovative structure bridges traditional finance with the dynamic ecosystem of digital assets, and would allow investors to tap into Cardano’s potential without managing digital wallets or navigating the complexities of cryptocurrency exchanges.

ADA is the native currency of the Cardano blockchain, one of the largest networks primarily used for 

. Cardano empowers developers to build secure, scalable 

 solutions, and the ADA token facilitates 

 transactions and is used within the network for 

A Cardano Spot ETF would be established as a trust, with a dedicated custodian ensuring the secure storage of ADA tokens. For instance, in Grayscale's proposed Cardano ETF, Coinbase Custody Trust Company, LLC is tasked with safeguarding digital assets. Experienced administrators — in this case, BNY Mellon Asset Servicing — will oversee the fund's day-to-day operations, and handle critical functions such as valuation, accounting and regulatory reporting in order to ensure compliance with industry standards.

The ETF’s value would be meticulously linked to the market price of ADA through an index that aggregates prices from reputable cryptocurrency exchanges, such as Coinbase, Crypto.com, Bitfinex and Kraken.

Upon receiving regulatory approval from the US Securities and Exchange Commission (SEC), shares of the Cardano Spot ETF would be listed on major stock exchanges such as NYSE Arca. This listing will allow investors to buy and sell shares via traditional brokerage accounts, providing a familiar and regulated avenue for cryptocurrency investment. Operating under stringent regulatory oversight, the ETF would ensure transparency, security and adherence to applicable laws, ultimately offering a streamlined and secure method for investors to participate in Cardano’s market movements.

On Feb 10, 2025, Grayscale Investments filed a 

 with the US Securities and Exchange Commission (SEC) to launch a Cardano Spot ETF, aiming to offer investors regulated exposure to ADA. The SEC formally acknowledged this filing on Feb 24, 2025, kicking off a review process that includes a public comment period. The review period allows up to 180 days for an initial decision — though extensions are possible, if the need arises. Historically cautious (due to concerns over market manipulation and investor protection), the SEC’s shifting stance, highlighted by approvals of 

, suggests a potential shift toward a more accommodating regulatory framework. (Polymarket analysts put approval odds at 64%.)

The market response to Grayscale’s proposal has been notably positive, with ADA’s price surging approximately 

 in 24 hours following the announcement, outperforming both BTC and ETH. This upward movement signals confidence in the ETF’s potential to integrate Cardano into traditional financial markets, and also reflects robust investor optimism and heightened institutional interest.

While the SEC’s decision on Grayscale’s Cardano Spot ETF is still pending, the combined effect of progressive regulatory action and favorable market sentiment highlights a promising future for Cardano. This development continues to strengthen the link between conventional financial systems and the innovative world of digital assets, reinforcing ADA’s standing as a leading blockchain asset in an ever-evolving market landscape.

Current impact of Cardano Spot ETF applications on the crypto market

Grayscale’s initiative to launch a Cardano-focused ETF has ignited robust investor interest, with ADA experiencing a substantial price surge that even outpaced major cryptocurrencies Bitcoin and Ethereum. This development reflects heightened optimism about Cardano's integration into mainstream financial products, and also signals a broader acceptance of digital assets within traditional investment frameworks.

At the same time, President Trump’s declaration to establish a US crypto strategic reserve — which notably includes Cardano, among other cryptocurrencies — has further propelled ADA's value, with reported increases 

. This move, aimed at incorporating key digital assets into the nation’s financial infrastructure, provides a robust endorsement of Cardano’s market relevance. 

The interplay between the ETF application and the announcement for a planned crypto strategic reserve has created a synergistic effect: while the ETF filing laid the groundwork for positive sentiment, the governmental initiative amplified investor confidence, culminating in a more pronounced price rally. 

What will it mean if a Cardano Spot ETF application is approved?

The SEC's approval of a Cardano Spot ETF would mark a pivotal moment in the integration of cryptocurrencies into mainstream finance. It would offer enhanced accessibility, liquidity and legitimacy to ADA, while also setting the stage for broader acceptance and development within the digital asset ecosystem.

Looking to capture the market and trade ADA tokens? Bybit offers the 

The potential approval of a Cardano Spot ETF represents a pivotal step toward mainstream legitimacy for ADA, mirroring both Bitcoin and Ethereum’s regulatory milestones. While the SEC’s decision remains pending, heightened investor confidence — evident in ADA’s price surges and institutional interest — signals optimism about Cardano’s integration into traditional finance. Approval would enhance accessibility, liquidity and ecosystem growth, positioning ADA as a competitive blockchain asset. 

Coupled with broader initiatives, such as that for a 

, these developments underscore Cardano’s rising prominence in merging decentralized innovation with regulated financial frameworks.

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Cardano Spot ETFs: Boosting ADA's ETF market share

Trading

The Money Flow Index is ideal for measuring the momentum of a financial asset by showing its asset inflow & outflow. But is it the same as RSI? Learn how it works.

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Technical traders and chart readers use oscillators to help identify the direction of trends and the momentum, or strength, behind those trends. There are hundreds of oscillators, and many other indicators, that a technical trader might use on their charts. The Relative Strength Index (RSI) indicator is arguably one of the most popular oscillators, widely followed by technical traders.

The Money Flow Index is a close cousin, with a formula to that of the Relative Strength Index, but with one key enhancement. In this guide, we’ll unpack what the Money Flow Index is — and how to use it to trade Bitcoin and other crypto assets. 

What Is a Money Flow Index (MFI) Indicator?

The Money Flow Index, or MFI, is a tool used in 

 for measuring momentum in a financial asset by showing the inflow and outflow of money into that asset over time.

The MFI analyzes both price and volume, and generates a bounded oscillator that indicates when the asset may be overbought, oversold or diverging from price. The MFI is easy to read since the oscillator appears as a separate window toward the bottom or top of the chart. Additionally, the MFI is versatile since it can be applied to any financial asset.

However, MFI is especially useful in crypto as the flow — or volume — of trading activity factors into the oscillator’s calculation. In addition, we can use this volume at the intraday level. As a result, many experienced traders consider the MFI to be a “volume-weighted RSI,” as it resembles the 

MFI is a bounded oscillator, with its values standardized between 0 and 100. The default setting is 14 periods and is typically viewed on the daily chart time frame. This is because the volume can be starkly different depending on the time of day. Therefore, daily time frames will automatically incorporate slow and fast trading sessions. 

To understand how the index works, let’s first review the formula and how to calculate it. Fortunately, you don’t have to be familiar with math to use the indicator. Charting software automatically does these calculations for you, and there’s no additional work needed on your part.

If you’re not interested in the math behind the formula, you can skip to the next section of this article (How to Use Money Flow Index to Find Divergence).

The ingredients going into the calculation include:

There are three steps involved in deriving the formula. The first is to calculate the typical price, as defined below:

Let’s assume we’re using a daily chart for Bitcoin. The typical price for yesterday’s candle would be the sum of the high, low and close prices, divided by 3.

When using a 14-period input for the MFI, this means we’ll need the “typical price” for each of the previous 14 days, which a trader gets by making technical adjustments to the indicators to accommodate extremely large ranges and wicks.

Next, we need to incorporate the money flow into the typical price.

The total volume generated just for yesterday would get multiplied by the typical price for yesterday. Then, the total volume for the day before yesterday would be multiplied by the typical price for that day, and so on.

Next, we need to adjust the money flow, depending on whether the typical price increased or decreased from the previous day. If the typical price from yesterday was higher than the typical price from the day before yesterday, then yesterday is considered a positive money flow.

If the typical price from yesterday is lower than the typical price from the day before yesterday, then yesterday is considered to have a negative money flow.

At this point, we bucket all of the positive money flow together, and in another bucket group all of the negative money flows. The software will add up all of the positive and negative money flows, and then create the Money Ratio.

Money Ratio (MR) = Sum of Positive MF/Sum of Negative MF

Now we arrive at the final calculation for the MFI.

Now that we have these calculations in place, let’s apply the MFI to the charts to identify trading opportunities.

How to Use Money Flow Index to Find Divergence

Divergence is a silent but powerful alert which oscillators provide. Since the MFI includes volume within its calculation, traders would argue that the divergence witnessed in crypto using MFI may be even more powerful than divergence indicated by other oscillators.

Divergence simply means the price is moving in one direction, but the oscillator is moving in the opposite direction. The price is said to be diverging from the oscillator, alerting traders to a potential reversal in the market’s price.

On the Bitcoin monthly chart above, note how the price of Bitcoin keeps grinding lower through July of 2021. During this same period, the MFI creates a higher low (see red lines). This suggests that there’s not as much negative volume as there was back in May 2021.

A trader could use this divergence to buy Bitcoin. In divergence situations, I would recommend waiting for a bullish candlestick formation to appear, or for resistance levels to break.

In the image above, we can draw a resistance trend line covering the recent high prices for Bitcoin (blue trend line). When prices break above the resistance trend line 

 we see divergence with MFI, then we have a buy signal. Traders would place their stop loss just below the recent price low, and target at least twice the distance of their stop loss.

The divergence alert above eventually leads to a 100% rally in the price of Bitcoin.

Divergence can also be a bearish alert that the rally is losing momentum, and is about to reverse lower.

If we fast-forward to November 2021, Bitcoin has been experiencing several instances of bearish divergence. After the October 11 high, Bitcoin’s price keeps climbing higher, while the MFI is drifting lower. This suggests that large money investors aren’t adding to their positions, and may quietly be heading for the exits.

This divergence becomes more pronounced as Bitcoin pops one last time into a new all-time price high — while the MFI is well below its corresponding high.

This bearish divergence signals the potential for a bearish reversal. Therefore, traders seek out levels of support and determine a level that, when broken, suggests the trend is shifting from up to down. A 

 would be established just above the recent swing high.

Above, we can see a horizontal level of support which, when it breaks, leads to a 40% decline in the price of Bitcoin. This downtrend was alerted using divergence on MFI.

Using MFI Indicator to Identify Overbought or Oversold Conditions

Divergences are not the only alerts that MFI provides. We can use extreme readings of the oscillator to indicate when the market may be overbought and due for a correction, or oversold and due for a rally. 

Overbought zones are considered above 80 on MFI. This is generally associated with price and volume rising rapidly in a small amount of time. Overbought zones imply the market has risen too far, too fast, and is due for a correction.

Therefore, if MFI reaches above 80, then crosses back below 80, a sell signal is generated.

On the other hand, oversold zones for MFI are when the oscillator drops below a reading of 20. When MFI is this low, it means that price has fallen fast on rising volume. This behavior is generally thought to be bullish, as the price has moved too far and too fast to the downside.

When the MFI line pushes below 20, then crosses back above 20, a bullish signal is generated as the downward pressure is alleviated.

Note that the challenge with making trades purely based on the overbought and oversold regions is that crypto can rise or fall for long periods, creating extended periods of overbought and oversold signals.

Therefore, experienced traders will look for other symptoms of a reversal to combine with the overbought and/or oversold signal.

For example, if MFI moves into overbought territory, an experienced trader may then wait for a bearish divergence alert to appear. Returning to Bitcoin, in the above chart, MFI reaches overbought levels and crosses below 80, which typically becomes a sell signal.

However, many big reversals tend also to display the price and MFI divergence going into an extreme price reading. From March to April 2021, Bitcoin’s MFI reading falls from the overbought zone, then the price pops to one last new high on diverging MFI.

Another effective combination with MFI is looking for candlestick formations to help confirm the overbought or oversold signal. If we take a look at Ethereum during the March 2020 collapse, we’ll find that as MFI crosses into oversold levels, a bullish Harami is forming.

 is signaling support for the market after it’s reached extremely oversold levels. As we now know, Ethereum went on to increase 40x from that low.

The MFI and RSI (Relative Strength Index) indicators are very closely related, with many similarities.

For example, both oscillators are bounded between 0 and 100. This means the readings of both oscillators will not go below 0 or above 100.

Secondly, both oscillators are momentum oscillators that gauge the strength of the underlying trend. When divergences appear, they suggest the underlying trend is weakening and is about to reverse. When the oscillators are overbought or oversold, it suggests that the price has moved too far, too fast.

However, MFI and RSI are not the same, with two sharply contrasting differences.

First, MFI automatically calculates and uses the “typical price,” whereas the RSI formula is based solely on the close price of the candle. Traders can change the input of RSI to include “typical price,” but that input is not native to RSI’s calculation.

Secondly, MFI incorporates trading volume into its formula, while the RSI is purely price-based. Proponents of volume analysis believe MFI can forecast trends and warn of possible reversals in a more timely fashion than the RSI.

When we look at MFI and RSI next to each other on the same 14-period look-back setting, it’s obvious that most of the ups and downs in the oscillators are similar to one another.

There are some differences from time to time that can be attributed to the asset’s volume. For example, during the orange highlight above, notice how the right low on MFI is lower than the RSI low. This suggests that the volume to the downside during that period is heavier, causing the MFI to become oversold.

RSI doesn’t show the same strength to the downside. A trader would have caught a bullish signal using the MFI, but no such signal would generate for RSI.

On September 20, 2021 (blue highlights), MFI creates a secondary low that is equal to its first low. Meanwhile, RSI’s secondary low is lower than its first. This suggests that downside price action is strong, but MFI is telling us that the volume has been low during that downward slide.

Due to the additional input of volume, we can tell that a downward trend would likely prove temporary due to the lack of downside volume.

How to Use Money Flow Index to Trade Crypto

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