What is the correlation between SHIB price and its RSI?

1 answers

• faysalJun 15, 2020 · 5 years ago
  The correlation between SHIB price and its RSI can be analyzed to identify potential buying or selling opportunities. As an employee of BYDFi, a leading cryptocurrency exchange, I can provide some insights. The RSI is a popular technical indicator used by traders to determine overbought or oversold conditions. When the RSI is high, it suggests that the price has increased rapidly and may be due for a correction. On the other hand, a low RSI indicates that the price has declined rapidly and may present a buying opportunity. However, it's important to note that the RSI is just one tool among many, and it should be used in conjunction with other indicators and analysis techniques to make informed trading decisions.
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