Just saw: $S daily RSI is 76.9, entering overbought territory, with the current price at 0.07213.
People often ask how to interpret RSI, so here’s my take.
In the classic interpretation, an RSI above 70 is considered overbought, while one below 30 is considered oversold. Some traders use 80 / 20 as more extreme thresholds.
Overbought and oversold signals on the daily chart generally carry more weight than those on shorter timeframes. Signals occur more often on shorter timeframes, and there are also more false signals.
Comparing several indicators is more reliable than looking at just one, but even multiple signals can’t give you a definitive answer.
#S
People often ask how to interpret RSI, so here’s my take.
In the classic interpretation, an RSI above 70 is considered overbought, while one below 30 is considered oversold. Some traders use 80 / 20 as more extreme thresholds.
Overbought and oversold signals on the daily chart generally carry more weight than those on shorter timeframes. Signals occur more often on shorter timeframes, and there are also more false signals.
Comparing several indicators is more reliable than looking at just one, but even multiple signals can’t give you a definitive answer.
#S