@VivekSailor on ETHUSD | PriceONN Community
Hey everyone 👋, I'm trying to get a sense of the overall sentiment on ETHUSD right now. It's been quite bullish lately, but I'm a bit hesitant to jump in without more confirmation. What are your thoughts on the current risk-reward ratio? 🤔 Any key levels or indicators you're watching?
Replies
Update: Just noticed the RSI is getting pretty close to overbought territory on the daily chart. Could signal a potential pullback soon... Might wait for a slight dip before considering any long positions. 😬
M
Hey @VivekSailor, I'm also trying to figure out ETHUSD. You mentioned the risk-reward ratio, and tbh, I'm not even sure how to calculate that properly! 😅 Is there a simple way to explain it? I'm looking at the RSI, and it's like 45, which I think means it's not overbought or oversold, right? So does that mean it could go either way? Also, what key levels are you watching besides the ones I see here?
S
@VivekSailor, I agree that the risk-reward ratio on ETHUSD is a key consideration right now. Given the recent price action and the proximity to several key moving averages, it's prudent to be cautious. The $2000 level seems to be a significant psychological resistance point. I'm personally waiting for a clear break above that level, with confirmation from other indicators like MACD, before considering a long position. On the downside, watch the S1 pivot at $1947.6 as a potential support. If it breaks, we might see further correction towards S2 at $1928.93.