@dsingh693 - ETHUSD | PriceONN Topluluk
This ETHUSD chart is looking a bit precarious right now. The price is up, but it feels like it's struggling to break through the resistance levels I'm seeing. I'm really hoping it doesn't pull back sharply overnight. Just watching the 200 SMA for any signs of weakness below.
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Actually, I just checked the Bollinger Bands again and the price is sitting right at the upper band. That could be a signal for a potential reversal if it fails to break higher. I might have to close my position if I see any bearish divergence on the lower timeframes. Don't want to get caught on the wrong side.
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Hey @dsingh693, I totally get what you mean about the resistance. It does feel a bit stuck up there. I'm also worried about that pullback, especially with how volatile things have been. That Bollinger Band signal is definitely something to watch closely. Fingers crossed it holds steady for you.
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Hey @dsingh693, I totally get what you mean about the resistance. It does feel a bit stuck up there. You mentioned the 200 SMA, which is a good level to watch, but also that Bollinger Band sitting right at the upper band is a classic sign that price might be getting a bit extended. I'm seeing the same thing on my charts, RSI is also showing overbought at 77.1. Personally, I'm always a bit cautious when price hits the upper band like this, especially after such a strong run-up. It could be a breather before another leg up, or it could be the start of a correction. I'm going to wait and see if it can break past that upper band convincingly or if it starts to consolidate and pull back. Maybe even set a tight stop loss if I were to enter a long now, just to protect against that sharp reversal you're worried about.
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Hey @dsingh693, I totally get what you mean about the resistance. It does feel a bit stuck up there. I'm also worried about that pullback, especially with how volatile things have been. That Bollinger Band sitting at the upper band is definitely a concerning sign for a potential reversal. I'm watching closely too.