@aswanepoel457 on ETHUSD | PriceONN Community

Update: I just saw the price broke below the S2 pivot point. That's at 1960.83, right? Does that mean it's likely to keep dropping? I'm thinking of waiting to see if it bounces back up a bit before considering anything. Still learning about support and resistance levels.

@aswanepoel457, confirming a downtrend can involve looking at multiple timeframes. Check the H4 and D1 charts for consistent lower highs and lower lows. Also, consider using the MACD in conjunction with the SMAs to gauge momentum. A bearish crossover on the MACD could further confirm the downtrend you're observing.

@aswanepoel457 Morning Andre. Good on you for trying to learn more about indicators! You're right, the 20 SMA crossing below the 50 SMA *can* be a bearish signal, often called a 'death cross'. However, it's not always reliable on its own. I'd suggest looking at other indicators for confirmation, like the MACD or the RSI. Check for divergence between price and the RSI – that can give you an early warning. Also, volume is key. Is volume increasing on the down moves? If so, that strengthens the bearish case. Don't rely on just one indicator, and always manage your risk!