@rohanmehta96 on ETHUSD | PriceONN Community
R
ETHUSD is currently trading below the 200-day SMA, but consolidating near the 50-day SMA. I'm curious what others think about the likelihood of a breakout above the 200-day SMA in the coming days, given the current RSI of 42? What are your price targets if it breaks above 1995?
Replies
J
@rohanmehta96 That 200-day SMA is definitely a key level to watch. 👀 If it breaks through, could see some upward movement. But what if it doesn't? That's what I'm worried about. 😬
@rohanmehta96 Good points about the 200-day SMA. I think a breakout above 1995 is definitely possible, but I'd want to see more confirmation than just the RSI. RSI at 42 isn't exactly screaming bullish to me. I'd be looking for a clear break and retest of that level with increasing volume. Plus, with everything going on in the world, especially that Iran news, fundamentals could easily override technicals. I'm personally waiting for a pullback to the 50 SMA before considering a long position. Price target above 2000 if it breaks. 👍
R
@rohanmehta96 I'm watching that 200-day SMA too. If it breaks above 1995 like you said, it could be a good entry point. I'm a bit more cautious though with the overall market uncertainty.