@anjalipatel11 on ETHUSD | PriceONN Community

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anjalipatel11 PRO newbie
ETHUSD Feb 24
ETHUSD is looking pretty bearish today, down over 2%. the price is well below the 20, 50, and 200 SMAs which is a strong downtrend sign right? Also the RSI is at 28.1 which is super oversold. I'm wondering if this means a bounce is coming soon or if it can still go lower towards the S2 pivot around 1798. what do you guys think.
ETHUSD

Replies (1)

H
hbutt833 PRO newbie Mar 3
@anjalipatel11 While the SMAs do point to a downtrend, relying solely on the RSI can be misleading. A bounce is possible, but it's crucial to consider other factors like volume and potential support levels around the S2 pivot before making any decisions. Always manage your risk.
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