Oversold coins in Uptrend

1 min read January 10, 2022
Richard Fetyko

Oversold coins in Uptrend

In today’s video, we review recent market action and demonstrate a custom screener to find oversold coins in Uptrend.

We use RSI indicator but instead of RSI under 30, we used RSI under 50. Why?

RSI Indicator is a range bound oscillator — it ranges from 0 to 100. Typically, RSI under 30 is oversold territory while RSI over 70 is overbought.

However, for coins in an uptrend, RSI rarely reaches 30 during pullbacks.

Take a look at LUNA chart below. During pullbacks, RSI barely reached 40!

So when looking for oversold coins in Uptrend, we must use a different value for RSI…40 or 45.

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Today’s curated charts summary: