$SHELL - Daily timeframe also enters a short-term overbought zone
The 4H chart is not the only timeframe showing strong momentum. The $SHELL daily chart is also becoming stretched.
1D snapshot on Binance:
Price: about 0.0241
BOLL Upper: 0.0234
BOLL Mid: 0.0201
BOLL Lower: 0.0169
RSI(6): about 81.92
Price is around 3% above the Upper Bollinger Band, while RSI(6) has moved above 80.
This is consistent with an accelerating recovery.
However, price moving far above the Bollinger midline also means short-term volatility may increase.
The 0.0255 area remains an important structural level before a larger breakout can be evaluated.
#SHELL #DailyChart #TechnicalAnalysis #Binance
The 4H chart is not the only timeframe showing strong momentum. The $SHELL daily chart is also becoming stretched.
1D snapshot on Binance:
Price: about 0.0241
BOLL Upper: 0.0234
BOLL Mid: 0.0201
BOLL Lower: 0.0169
RSI(6): about 81.92
Price is around 3% above the Upper Bollinger Band, while RSI(6) has moved above 80.
This is consistent with an accelerating recovery.
However, price moving far above the Bollinger midline also means short-term volatility may increase.
The 0.0255 area remains an important structural level before a larger breakout can be evaluated.
#SHELL #DailyChart #TechnicalAnalysis #Binance