Note: $DOGE daily RSI is 24.8, entering oversold territory, with the current price at 0.06324.
People often ask how to read RSI, so here’s my take.
RSI 50 is often treated as the dividing line between bulls and bears: staying above 50 indicates that upward momentum is prevailing, while staying below it suggests the opposite.
During a one-sided rally, RSI can stay above 70 for quite a while; during a one-sided decline, it can likewise remain below 30 for a long time. Overbought or oversold conditions don’t mean an immediate reversal.
Comparing multiple data points is more reliable than looking at just one, but even more signals can’t provide a definitive conclusion.
#DOGE
People often ask how to read RSI, so here’s my take.
RSI 50 is often treated as the dividing line between bulls and bears: staying above 50 indicates that upward momentum is prevailing, while staying below it suggests the opposite.
During a one-sided rally, RSI can stay above 70 for quite a while; during a one-sided decline, it can likewise remain below 30 for a long time. Overbought or oversold conditions don’t mean an immediate reversal.
Comparing multiple data points is more reliable than looking at just one, but even more signals can’t provide a definitive conclusion.
#DOGE