$SHELL - The session also moves into the short-term overbought zone
Not only the 4H chart, the 1D chart of $SHELL is also showing fairly strong upward momentum.
1D snapshot on Binance:
Price: around 0.0241
BOLL Upper: 0.0234
BOLL Mid: 0.0201
BOLL Lower: 0.0169
RSI(6): around 81.92
The price is about 3% above the Upper Bollinger Band, while RSI(6) has already exceeded 80.
This is consistent with the recovery rally gaining speed.
However, when the price moves too far away from the middle Bollinger line, it also implies that short-term volatility could increase.
The 0.0255 zone is still an important structural level before we can assess a larger breakout.
#SHELL #DailyChart #TechnicalAnalysis #Binance
Not only the 4H chart, the 1D chart of $SHELL is also showing fairly strong upward momentum.
1D snapshot on Binance:
Price: around 0.0241
BOLL Upper: 0.0234
BOLL Mid: 0.0201
BOLL Lower: 0.0169
RSI(6): around 81.92
The price is about 3% above the Upper Bollinger Band, while RSI(6) has already exceeded 80.
This is consistent with the recovery rally gaining speed.
However, when the price moves too far away from the middle Bollinger line, it also implies that short-term volatility could increase.
The 0.0255 zone is still an important structural level before we can assess a larger breakout.
#SHELL #DailyChart #TechnicalAnalysis #Binance