🐋 $LUMIA Daily RSI is 80.2, putting it in overbought territory.
RSI itself doesn’t determine price, but many people watch it, and its reading influences a lot of decisions.
RSI 50 is often seen as the dividing line between bulls and bears: staying above 50 suggests upward momentum is prevailing; below it, the opposite is true.
Any indicator only summarizes past market movements, and prices can certainly move in the opposite direction.
Stay calm and don’t get carried away.
RSI itself doesn’t determine price, but many people watch it, and its reading influences a lot of decisions.
RSI 50 is often seen as the dividing line between bulls and bears: staying above 50 suggests upward momentum is prevailing; below it, the opposite is true.
Any indicator only summarizes past market movements, and prices can certainly move in the opposite direction.
Stay calm and don’t get carried away.