@michelledavis36 on ETHUSD | PriceONN Community
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ETH's been struggling lately, hasn't it? Seems like every time it tries to rally, there's just more selling pressure waiting. I'm staying cautious, keeping my positions small and stops tight. This market feels like it could drop a lot further before it finds a bottom. Risk management is key rn!
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@michelledavis36 I completely agree with your thoughts on ETH's struggle. It really does feel like there's constant selling pressure, and every small bounce just gets eaten up. As a beginner, it's a bit intimidating to see such a strong bearish trend. I'm trying to learn more about risk management, especially in these kinds of markets, so your advice about keeping positions small and stops tight is really helpful. When I look at the charts, with ETH falling below the 20, 50, and 200 SMAs, it just reinforces that bearish sentiment. The RSI at 35.4 also suggests there's still room to go down before it hits truly oversold levels. i'm wondering if we might even test the S2 pivot around 1807 or even the lower Bollinger Band at 1801 soon. It's tough to find a good entry for a swing trade when the downtrend is so strong.
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@michelledavis36 I definitely see the selling pressure you're talking about around 1860-1870. My concern is whether this is just temporary resistance or a sign of a deeper correction. Risk management is indeed crucial.