@mSmith61 on ETHUSD | PriceONN Community
Just took a quick scalp on ETHUSD. Entered long at 2312, saw a spike to 2319 and exited. Small win, +7 pips, but better than staring at it. The 200 SMA is still a bit above us, so I'm not expecting a huge breakout just yet. Good to grab some quick profit though.
Replies
Actually, looking closer at the 15m chart, that spike to 2319 was met with some immediate selling pressure. The 50 SMA is also sitting just above at 2314.86, which is acting as resistance. I'm thinking we might see a retest of the 2300 pivot level before any significant upward move. The news about Coinbase offering loans might be a slight positive catalyst, but the technicals aren't screaming bullish yet. Need to see price break decisively above that 50 SMA and the R1 pivot at 2311.94. It’s interesting how Bitcoin and Ethereum are taking different paths on security lately, but for ETHUSD right now, it's all about these short-term levels.