$EVAA Picking up where we left off
Many old hands in the market say the RSI is useless, but to me, this indicator is like finding a compass when you’re lost in an unfamiliar forest. It helps us figure out which direction to explore next, while also giving us insight into the market’s current mood.
As usual, let’s use RSI data to analyze this move.
The short-term RSI6 has surged to 68.22, just shy of the 70 overbought threshold. It’s already approaching overbought territory—a level where selling to take profits becomes more tempting. Compare this with the previous rally, when price hit a high of 1.1733: the RSI shot straight above 70, and then a pullback followed almost immediately.
All three lines—6>12>24—are trending upward, which shows that the medium-term trend hasn’t weakened yet. The rebound is still holding its rhythm; this isn’t a full-on collapse.
But today, after peaking at 1.518, price closed with a small pullback candlestick, and RSI6 has also started to curl down slightly from its high. This suggests that short-term bullish momentum is beginning to ease, and some investors are starting to look to take profits rather than blindly pushing prices higher.
Brother Nan, let’s stick with a more conservative approach: wait for a pullback to 1.321, then go long, with a target of 1.462.
#币安将恢复更多资产提现
Many old hands in the market say the RSI is useless, but to me, this indicator is like finding a compass when you’re lost in an unfamiliar forest. It helps us figure out which direction to explore next, while also giving us insight into the market’s current mood.
As usual, let’s use RSI data to analyze this move.
The short-term RSI6 has surged to 68.22, just shy of the 70 overbought threshold. It’s already approaching overbought territory—a level where selling to take profits becomes more tempting. Compare this with the previous rally, when price hit a high of 1.1733: the RSI shot straight above 70, and then a pullback followed almost immediately.
All three lines—6>12>24—are trending upward, which shows that the medium-term trend hasn’t weakened yet. The rebound is still holding its rhythm; this isn’t a full-on collapse.
But today, after peaking at 1.518, price closed with a small pullback candlestick, and RSI6 has also started to curl down slightly from its high. This suggests that short-term bullish momentum is beginning to ease, and some investors are starting to look to take profits rather than blindly pushing prices higher.
Brother Nan, let’s stick with a more conservative approach: wait for a pullback to 1.321, then go long, with a target of 1.462.
#币安将恢复更多资产提现
