$ETH 4-hour RSI (14) is 24.7, entering oversold territory, with the current price at 1951.9.
Oversold means prices have fallen sharply in the short term; it doesn't mean a bottom is imminent. In a weak market, RSI can remain below 30 for a long time. A bullish divergence is more worth watching: the price makes a new low, but RSI does not.
Indicator lag is normal, so don't expect it to catch the exact highs and lows.
Oversold means prices have fallen sharply in the short term; it doesn't mean a bottom is imminent. In a weak market, RSI can remain below 30 for a long time. A bullish divergence is more worth watching: the price makes a new low, but RSI does not.
Indicator lag is normal, so don't expect it to catch the exact highs and lows.