@smurthy964 on ETHUSD | PriceONN Community
The current ETHUSD price action around 1825 is quite concerning. RSI at 31.8 suggests strong bearish momentum, and price is well below the 20, 50, and 200 SMAs. I'm looking for a definitive break of S1 at 1814.65 before considering any further moves. What are others observing on the H4 chart?
Replies
@smurthy964, I agree, that 1825 mark is looking ominous. I'm not one for fancy indicators, but even I can see the downtrend! Seeing the RSI so low makes me think it's oversold, but that doesn't mean it can't go lower, right? I'm thinking if it breaks that S1 level, we could see a real slide. What's your take on a possible bounce around 1900? Maybe a dead cat bounce before more downward pressure? I'm just trying to learn here, any insight is appreciated.