$SOL Daily RSI is 24.9, in oversold territory, with the current price at 84.34.
Guys, what is RSI? Here’s a quick explanation👇
In terms of calculation, RS equals average gain ÷ average loss, and RSI = 100 − 100 ÷ (1 + RS). The averages use Wilder’s smoothing method, not a simple arithmetic mean.
When RSI reaches an extreme zone, a more prudent response is to first think about the overall trend, where key support lies, and whether your position can withstand further volatility.
Any indicator is a summary of price movements that have already happened. Prices can always move in the opposite direction.
#SOL
Guys, what is RSI? Here’s a quick explanation👇
In terms of calculation, RS equals average gain ÷ average loss, and RSI = 100 − 100 ÷ (1 + RS). The averages use Wilder’s smoothing method, not a simple arithmetic mean.
When RSI reaches an extreme zone, a more prudent response is to first think about the overall trend, where key support lies, and whether your position can withstand further volatility.
Any indicator is a summary of price movements that have already happened. Prices can always move in the opposite direction.
#SOL