@aishwaryarao on ETHUSD | PriceONN Community
I'm observing a potential short opportunity on ETHUSD. The RSI(14) at 35 suggests it's nearing oversold, but the persistent selling pressure and the price consistently failing to break above the 20-day SMA (currently at 1984.26) indicate further downside. I'm considering entering a short position with a tight stop-loss just above the 20-day SMA, targeting the S2 pivot level at 1928.78 as the initial take-profit point. Risk management is key here, so a small position size is advisable.
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Update: I've initiated a small short position at 1941.60. SL is placed at 1985 to account for potential volatility around the SMA. Let's see how this plays out, keeping a close watch on the price action.