{"id":12789,"date":"2022-11-10T11:18:31","date_gmt":"2022-11-10T11:18:31","guid":{"rendered":"https:\/\/tradingshot.com\/?p=12789"},"modified":"2023-05-16T11:20:16","modified_gmt":"2023-05-16T11:20:16","slug":"solusd-oversold-rsi-means-nothing-needs-this-in-order-to-rally","status":"publish","type":"post","link":"https:\/\/tradingshot.com\/index.php\/2022\/11\/10\/solusd-oversold-rsi-means-nothing-needs-this-in-order-to-rally\/","title":{"rendered":"SOLUSD Oversold RSI means nothing. Needs this in order to rally."},"content":{"rendered":"

 <\/p>\n

Solana (SOLUSD) has recovered a considerable amount of yesterday’s losses. Rebounding after the 1D RSI broke below the 30.000 oversold barrier, this alone isn’t enough to sustain a rally. During the previous 2 times the RSI rebounded above the 30.000 oversold level failed to sustain the uptrend as the price got rejected on the 0.382 Fibonacci retracement level.<\/p>\n

As a result, we ideally want to see a break above the 0.5 Fib level (22.00) before buying into the rally. The obvious short-term target is the 1D MA50 (blue trend-line). A break above the 1D MA200 (orange trend-line), which is unbroken since January 20, can make a trend shift long-term to bullish.<\/p>\n

Tradingview link:<\/p>\n

https:\/\/www.tradingview.com\/chart\/SOLUSD\/rOXJwjNH-SOLUSD-Oversold-RSI-means-nothing-Needs-this-in-order-to-rally<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  Solana (SOLUSD) has recovered a considerable amount of yesterday’s losses. Rebounding after the 1D RSI broke below the 30.000 oversold barrier, this alone isn’t enough to sustain a rally. During the previous 2 times the RSI rebounded above the 30.000 oversold level failed to sustain the uptrend as the price got rejected on the<\/p>\n","protected":false},"author":611,"featured_media":12790,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1636],"tags":[],"class_list":["post-12789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/users\/611"}],"replies":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/comments?post=12789"}],"version-history":[{"count":2,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12789\/revisions"}],"predecessor-version":[{"id":12792,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12789\/revisions\/12792"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media\/12790"}],"wp:attachment":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media?parent=12789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/categories?post=12789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/tags?post=12789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}