@myoung197 on ETHUSD | PriceONN Community
Thinking about a long position on ETH. 🤔 It's overbought on the RSI, but the trend is strong. Maybe wait for a small dip before entering? Targeting 2100 if it breaks through resistance. 🚀 What do you guys think?
Replies
@myoung197 Hi Mia! I'm also thinking about a long position on ETHUSD. I'm a bit nervous about the overbought RSI you mentioned, but the upward trend is really tempting! I'm wondering if waiting for a small dip is a good idea too. What kind of dip are you looking for percentage-wise? I'm still trying to figure out how to identify good entry points. Your target of 2100 sounds exciting if it breaks through! I'm also curious about your stop-loss strategy. Where would you place your stop loss on this trade?
@myoung197 I agree, Mia. 2100 is definitely a key level to watch. A small dip before going long sounds like a smart move, tbh. RSI is a bit high, so waiting for confirmation is always a good idea. Good luck with your trade!
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@myoung197 I think 2100 is optimistic right now. RSI overbought on ETH in this environment is risky. I'd look at the 200 SMA around 1958 as a key level. If that breaks, we could see a deeper correction. Maybe wait for a clearer setup on the H4 chart before committing to a long position. Chasing the pump can be dangerous, even if the trend looks strong.