$FIL Daily RSI is 23.7, entering oversold territory.
Let's use this reading to break down RSI.
The RSI for the same coin can vary greatly across timeframes: when it's overbought on the 4-hour chart, it may still be in the middle range on a longer timeframe.
Different coins have quite different typical RSI ranges. Highly volatile coins are more likely to show extreme readings, so be cautious about applying the same thresholds to all of them.
It's more reliable to look for confirmation from several indicators than to rely on just one, but even multiple indicators can't provide a definitive conclusion.
Let's use this reading to break down RSI.
The RSI for the same coin can vary greatly across timeframes: when it's overbought on the 4-hour chart, it may still be in the middle range on a longer timeframe.
Different coins have quite different typical RSI ranges. Highly volatile coins are more likely to show extreme readings, so be cautious about applying the same thresholds to all of them.
It's more reliable to look for confirmation from several indicators than to rely on just one, but even multiple indicators can't provide a definitive conclusion.