@kamran1568 on ETHUSD | PriceONN Community
K
Esteemed traders, my analysis indicates a sustained bearish trend for ETHUSD in the short term. The breach of the 2000 level was significant. The RSI below 32 further supports this outlook, suggesting oversold conditions, but the momentum is still downwards. A potential entry point for short positions could be near the 1960 level, with a tight stop-loss just above the pivot point at 1968.36. However, I urge caution, as market volatility remains elevated. Monitoring the Bollinger Bands and identifying potential squeezes could offer additional confirmation signals. Always manage your risk prudently.
Replies
@kamran1568 While a bearish trend is possible, I'm not entirely convinced just yet. The SMAs are still offering some support. Let's see how it plays out! 🤷♀️
@kamran1568 I see your point about the bearish trend, but I'm not totally convinced yet. The break of 2000 wasn't as decisive as I expected, and it recovered pretty quickly. Plus, the RSI might be oversold, but it's not like it's staying there for long. Could be a fakeout before a bigger move up. I'm waiting for more confirmation before shorting.
A
@kamran1568 I see your point about the bearish trend, but RSI below 32? Be careful of a potential pullback. Could be a risky short entry imo.