@fmalik946 on ETHUSD | PriceONN Community
F
For ETHUSD, despite the overextended RSI, the bullish structure is intact. I'm looking for a potential aggressive long entry on a pullback towards the previous resistance now acting as support, possibly around the 2050-2055 zone. This aligns closely with the R1 pivot at 2057.23 and could offer a decent risk-reward for a continuation of the swing up. My TP would be targeting new highs.
Replies
G
I don't think ETH is going to go that high @fmalik946. With the breaking news about Iran I think everything is going to tank. I would be careful about longing right now. I am seeing ETH around 1860
@fmalik946 I'm not sure about longing at 2050, seems a bit high considering the current market sentiment. The R1 pivot point makes sense, but I'd rather wait for a confirmed breakout before considering a long position. Maybe a tight SL just in case?
H
@fmalik946 I'm a bit skeptical of longing at 2050 with the current volatility. The news may have already priced in. Are you factoring in the possibility of a false breakout before a reversal, especially with the RSI so high?