The price of shitcoin reached RSI 59 after falling to 0.31 US dollars, which is what happened last time

The price of shitcoin has been falling for the past two weeks and continued to fall in the past 24 hours. In particular, shitcoin has not yet shown a clear upward trend above the $0.30 threshold, although it has mostly stayed above $0.31.
During the fall in prices, the relative strength index (RSI) indicator also fell similarly. Cryptocurrency analyst KrissPax pointed this out on social media platform X. He pointed out that the RSI of shitcoin reached 59, which is related to the bullish potential of the current market cycle.

Shitcoin RSI is 59: Historical context: -
According to the crypto analyst KrissPax on social media platform X, the RSI of shitcoin is 59, which is a key technical signal. It is worth noting that the technical analysis is based on the weekly timeframe chart of shitcoin. According to the chart, the weekly RSI of shitcoin has been in a falling trend since early December, previously reaching peak values of over 90.
During this period, the meme coin is under tremendous buying pressure, leading to overbought conditions. From here, the RSI of the shitcoin dogcoin sharply declines, triggered by intense selling pressure from holders, resulting in a significant fall in the price of the shitcoin dogcoin. This correction will push the RSI below the 70 and 60 levels, reinforcing the sentiment of falling during this period.

Interestingly, the weekly RSI of the dog shitcoin has now stabilized at 59, remaining around this level since December 16. While this stability may indicate a temporary halt in selling pressure, it may also foreshadow a more significant change in the price trend of the dog shitcoin. Historical data shared by KrissPax emphasizes this possibility.