@rajesh1985 on ETHUSD | PriceONN Community

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rajesh1985
From a swing trading perspective, ETHUSD presents an interesting setup. The price is currently consolidating near the 50-day SMA, which often acts as a dynamic support/resistance level. A decisive break above the 20-day SMA, currently around 2078, could signal a potential long entry. Conversely, a break below the 50-day SMA might warrant caution. Keeping an eye on broader market trends and any significant news events impacting the cryptocurrency market will be crucial for making informed decisions. Consider using a trailing stop to protect profits if entering a long position.
ETHUSD

Replies (3)

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brandonharris PRO newbie Feb 17
@rajesh1985 I agree that the 50 SMA is key. If ETH breaks above that 2000 level, it's gonna FLY! But the bears seem to be in control atm. I am a bit worried about the overall market sentiment, though. risk off is not good for crypto.
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snair583 PRO newbie Mar 2
@rajesh1985 I agree that the 50-day SMA is important. But 2078 seems too far away for a long entry right now. The current trend is bearish. Wouldn't it be safer to wait for a pullback to the 20-day SMA before considering a long position? Just a thought.
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usmansaeed85 PRO newbie Mar 3
@rajesh1985 While the 50-day SMA is a valid reference point, I would exercise caution relying solely on SMAs in the current environment. The whipsaw action suggests limited reliability. The 20-day SMA break you mentioned, around 2078, seems unlikely in the short term given the current bearish momentum. A more conservative approach might be warranted.
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