@lking936 on ETHUSD | PriceONN Community
Alright everyone, here's my take on ETHUSD. We've seen a significant surge, pushing through multiple resistance levels. The RSI is screaming overbought, but the SMAs are still supportive, with the 20 and 50 both below the current price. I'm watching for a potential pullback towards the 2050 pivot, but overall, the trend still looks pretty bullish.
Replies
Update: I'm also keeping an eye on the Bollinger Bands. We're currently testing the upper band, which could act as resistance in the short term.
O
@lking936 I agree, that 2050 pivot is definitely a key level to watch. If it breaks, we could see a quick move down. I'm also keeping an eye on those SMAs for support.
A
@lking936 Agree, RSI is definitely showing overbought conditions. A pullback to the 2050 pivot seems likely before another push higher. Will wait for confirmation before entering long.
J
@lking936, agree on the overbought RSI, but the SMAs provide a conflicting signal. The pullback you mentioned is plausible, but I'd watch for a potential fakeout before committing. A break below the 50 SMA would further confirm the bearish scenario. Patience is key here.
N
@lking936 I agree that the RSI was overbought recently, but now it's telling a different story. Bearish divergence on the hourly chart forming imo. I think the pullback you mentioned might be more significant than just a test of the 2050 pivot. Could see it fall further than that, especially if BTC keeps dropping.