@ajoshi192 on ETHUSD | PriceONN Community

Hello @ajoshi192, I understand your position. It is often the case that after a significant move, the market takes a breather before the next leg. While the RSI is still showing some strength, I would advise caution with holding a long position directly at breakeven, especially with this level of volatility we're seeing. The fact that Bitcoin surged past $74k is giving some bullish sentiment across the board, but ETHUSD specifically seems to be struggling to gain traction above the 20-hour SMA at 2350.96. Perhaps consider tightening your stop slightly, maybe to just below the 2320 area, to protect some of your unrealized gains while still giving the trade room to breathe. We did see a strong bounce off the 50 SMA earlier, so there's definitely buying interest at those lower levels. Let's watch the price action around the 2350 level closely; a sustained break above it would be a very positive sign.

Hi @ajoshi192, glad to hear you moved your SL to breakeven, that's smart risk management! I'm watching ETHUSD closely too. It's consolidating right above the P pivot and looks like it's trying to break through that R1 at 2461. The bullishness from yesterday's news around Bitcoin's potential breakout is definitely carrying over, and the 200 SMA is still a ways below. However, the RSI is pretty high at 71, which makes me a little hesitant to add more to a long right here. I'd watch for a confirmed break above R1 with good volume, or be ready to take profit if it stalls. If it reverses, 2426 S2 could be a good spot to look for a bounce.