Selling pressure is spread wide across Binance perpetuals. On the daily chart, 59 of 399 contracts are oversold and only 16 are overbought. RSI is a 14 day momentum gauge, and a reading of 30 or below marks a stretched run of selling.
ALLO is the most stretched at 18.9. CT follows at 21.2 after a -11.4% day, the sharpest 24 hour drop among the eight most oversold names. FOGO is next at 22.7, down only -1.7%.
The average daily RSI across the board is 41.4, below the midpoint of the scale.
ALLO is the most stretched at 18.9. CT follows at 21.2 after a -11.4% day, the sharpest 24 hour drop among the eight most oversold names. FOGO is next at 22.7, down only -1.7%.
The average daily RSI across the board is 41.4, below the midpoint of the scale.
