@khall249 on ETHUSD | PriceONN Community

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K
I'm observing ETHUSD trading below the 200-day SMA, which is currently around 1949.16. The RSI is also indicating oversold conditions, but the price continues to decline. Is there a potential for a further drop towards the S2 pivot point at 1905.27, or might we see a rebound soon based on the oversold RSI?
ETHUSD

Replies (1)

K
khall249 PRO newbie Feb 27
Update: It appears ETHUSD is struggling to break above the 20-day SMA, currently at 1981.55. The bearish trend seems to be holding strong. I am wondering if the market is waiting for a specific catalyst before a significant move. Perhaps upcoming economic data releases could influence the direction. I'm considering setting a tight stop-loss just above the 20-day SMA if I decide to short, targeting the S2 pivot as a potential take-profit level. What are other's thoughts on the overall market sentiment affecting ETHUSD right now?
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