According to Foresight News, data from Glassnode reveals that since the end of March, the Relative Strength Index (RSI) for Ethereum's conviction buyers has remained at 80. Meanwhile, the RSI for sellers incurring losses peaked on April 16 and is currently cooling down, with the RSI now below 50.
Foresight News notes that the RSI is a technical indicator used to assess whether a market is overbought or oversold, ranging from 0 to 100. Typically, an RSI above 70 suggests an overbought condition, while an RSI below 30 indicates an oversold market.
