Technical note | $EVAA | Daily RSI(14) 78.1 | Overbought
First, the definition: RSI (Relative Strength Index) was developed by Welles Wilder. It is calculated from the average gains and average losses over the most recent 14 candlesticks, and ranges from 0 to 100.
A common interpretation: In a strong uptrend, RSI can remain above 70 for a long time; in a one-way downtrend, it can also stay below 30 for an extended period. Overbought or oversold conditions do not mean a reversal is imminent.
Extreme readings are usually accompanied by more dramatic price swings. In such cases, it is better to reduce leverage rather than make a large bet.
#EVAA
First, the definition: RSI (Relative Strength Index) was developed by Welles Wilder. It is calculated from the average gains and average losses over the most recent 14 candlesticks, and ranges from 0 to 100.
A common interpretation: In a strong uptrend, RSI can remain above 70 for a long time; in a one-way downtrend, it can also stay below 30 for an extended period. Overbought or oversold conditions do not mean a reversal is imminent.
Extreme readings are usually accompanied by more dramatic price swings. In such cases, it is better to reduce leverage rather than make a large bet.
#EVAA