Market notes｜$HYPE ｜Daily RSI(14) 24.9｜Oversold
First, a definition: RSI 50 is often seen as the dividing line between strength and weakness. Staying above 50 over the long term indicates that upward momentum is prevailing; below 50 suggests the opposite.
How to read it: RSI tends to have noticeably different ranges for different coins. Smaller coins with higher volatility also tend to hit extreme values more often, so be cautious about applying the same standards to all of them.
All indicators merely summarize market movements that have already happened. The market can absolutely move in the opposite direction.
#HYPE
NFA. Do your own research.
First, a definition: RSI 50 is often seen as the dividing line between strength and weakness. Staying above 50 over the long term indicates that upward momentum is prevailing; below 50 suggests the opposite.
How to read it: RSI tends to have noticeably different ranges for different coins. Smaller coins with higher volatility also tend to hit extreme values more often, so be cautious about applying the same standards to all of them.
All indicators merely summarize market movements that have already happened. The market can absolutely move in the opposite direction.
#HYPE
NFA. Do your own research.