A note: At $EVAA 4 hours, RSI is 81.1, in overbought territory, with the current price at 2.6291.
People often ask how to read RSI. This is how I think about it.
RSI readings for the same coin can vary quite a bit across timeframes: when it’s high on a shorter timeframe, it may still be around the middle on the daily chart.
I generally use RSI as a warning that sentiment may be overheated or oversold, and look at it alongside key price levels and trading volume. I don’t make decisions based on RSI alone.
With leveraged trading, first work out whether you can withstand the worst-case scenario, then look at what the signals are saying.
People often ask how to read RSI. This is how I think about it.
RSI readings for the same coin can vary quite a bit across timeframes: when it’s high on a shorter timeframe, it may still be around the middle on the daily chart.
I generally use RSI as a warning that sentiment may be overheated or oversold, and look at it alongside key price levels and trading volume. I don’t make decisions based on RSI alone.
With leveraged trading, first work out whether you can withstand the worst-case scenario, then look at what the signals are saying.