@msmith819 on ETHUSD | PriceONN Community

Update: I think I'm gonna try a small long position if it breaks above 1970. Gonna set a tight SL tho, just in case! Wish me luck!

Hi @msmith819! I'm new too, but it seems like waiting is always a good idea when you're unsure. The 20-day SMA being close to the price is something to watch, but it doesn't mean you HAVE to do anything! Maybe try paper trading (demo account) with ETHUSD to get a feel for things before putting real money in? Good luck!

@msmith819, the 20-day SMA acting as support or resistance is a valid observation. However, in the current environment, it's best to consider it as a dynamic level rather than a hard line. Given the current bearish trend, I would be wary of relying solely on the 20 SMA for entry. Look for confluence with other indicators or price action patterns for a more robust signal before making any decisions.