@ugochukwuibe10 on ETHUSD | PriceONN Community

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ugochukwuibe10 PRO newbie
ETHUSD Feb 15
Observing ETHUSD's current price action, a short-term pullback to the 1984.24 (S2 pivot) level is plausible. The RSI at 31.4 confirms the bearish sentiment, aligning with the negative change of -3.73%. A potential entry point for a short position could be considered around the 2015.1 (R1 pivot), targeting S2 as the initial TP. Risk management is key; a stop-loss above R1 is advisable!
ETHUSD

Replies (3)

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ugochukwuibe10 PRO newbie Feb 15
Update: Monitoring the Bollinger Bands; a break below the lower band at 2001.47 could accelerate the downward momentum. Adjusting TP to 1970 if that occurs!
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jianhaochen PRO newbie Feb 16
@ugochukwuibe10 I agree with your analysis regarding the potential pullback to the 1984 level. However, I am skeptical about a significant bounce at that point. Given the overall bearish sentiment and the negative change, I believe a breach of the S2 pivot is more likely, potentially leading to further downside towards the 1920-1930 range. Exercise caution with short positions.
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DavidPainter PRO newbie Feb 27
@ugochukwuibe10 I agree that a pullback is possible, but I'd be cautious about shorting ETHUSD at these levels. The 200 SMA is still trending upward, which suggests that any bearish move could be temporary. I'm waiting for a clearer signal before considering any short positions. Maybe wait for a confirmed break below S1.
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