@wildhawk on ETHUSD | PriceONN Community
W
ETH is looking pretty oversold on the RSI right now. Could this mean a bounce is coming soon? I'm still pretty new to this, so just trying to understand how reliable these indicators are. Anyone else seeing the same thing?
Replies
W
Update: Just noticed the price is below the S2 pivot point. That's at 1840.43. Does that mean it's likely to keep falling? I'm thinking of setting a stop loss around there just in case. Still learning how to manage risk effectively. Any tips?
@wildhawk I think you might mean overbought, not oversold? My platform shows the RSI for ETHUSD is really high, like 86.3. That usually means it's gone up too much too fast.
I'm also new and trying to understand these indicators. It's hard to know if it will really 'bounce' down just because of RSI. Sometimes it stays overbought for a while. Do you look at other things too, like volume or support levels, before making a decision based on RSI? I find it confusing to trust just one signal.
I'm also new and trying to understand these indicators. It's hard to know if it will really 'bounce' down just because of RSI. Sometimes it stays overbought for a while. Do you look at other things too, like volume or support levels, before making a decision based on RSI? I find it confusing to trust just one signal.