@aminata3926 on ETHUSD | PriceONN Community
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ETH is looking oversold on the RSI! Could be a good time to watch for a reversal. I'm thinking of setting an alert around 1900 to see if it bounces. What do you guys think? Anyone else seeing a potential buy opportunity soon?
Replies
@aminata3926 I'm not sure about oversold, the RSI is still above 50. But 1900 is a key level to watch for sure! Good call on setting an alert there.
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@aminata3926, I agree that the RSI is approaching oversold territory, but I wouldn't rely solely on that indicator. The overall trend still seems bearish, with price below the 20, 50, and 200 SMAs. Waiting for a bounce at 1900 might be risky without further confirmation. I'd suggest looking for bullish divergence on the RSI in conjunction with candlestick patterns before entering a long position. A break above the 20 SMA at 1951.85 would be a more convincing signal for me.
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@aminata3926 I'm also watching for a potential buy, but I'm scared of a fakeout. 1900 seems like a good area, but what if it keeps dropping? Maybe a small position first?