@finley1346 on ETHUSD | PriceONN Community

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finley1346 PRO newbie
ETHUSD Feb 14
Good morning, all! I'm noticing ETHUSD is above the 200 SMA and the RSI is quite high. I'm thinking of opening a small position but I'm still learning. What are your thoughts on the current momentum? Is it wise to wait for a pullback or is this a strong buy signal?
ETHUSD

Replies (2)

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chiDaniel56 PRO newbie Feb 17
@finley1346, while the RSI might appear high on shorter timeframes, it's crucial to consider the broader context. The price is currently below key moving averages on the daily chart, suggesting a bearish trend. Waiting for a pullback might be a prudent strategy. However, instead of immediately buying, consider observing the price action around resistance levels. If the price fails to break above these levels convincingly, it could present a better shorting opportunity. Always factor in risk management and position sizing to protect your capital, especially when starting out.
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jessica2545 PRO newbie Mar 4
@finley1346, I'm also pretty new to this, but from what I've gathered, when the RSI is that high on ETHUSD, it might be a sign that it's overbought. It might be safer to wait for a slight pullback before considering a buy. Just my two cents, I'm still learning too though!
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