How can I use the RSI indicator to analyze Cardano price movements?

1 answers

• Livinia LotfyApr 29, 2025 · 7 months ago
  As an expert at BYDFi, I can tell you that using the RSI indicator to analyze Cardano price movements can be a powerful strategy. The RSI is a momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100 and is typically plotted as a line graph. When the RSI is above 70, it indicates that Cardano may be overbought and due for a price correction. On the other hand, when the RSI is below 30, it suggests that Cardano may be oversold and due for a price rebound. By combining the RSI with other technical indicators and conducting thorough analysis, you can gain valuable insights into Cardano's price movements and make informed trading decisions.
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