@siva9407 on ETHUSD | PriceONN Community

Actually,, looking closer at the ETH chart, the RSI is still below 50 even after the small bounce. That suggests that the downward pressure is still there. The news about the crypto market cap increase is good,, but we need to see sustained buying volume to confirm a reversal. If ETH breaks below 2018, then we might see a test of the S1 pivot at 2019.12. I'm also watching the 50 SMA,, it seems to be acting as dynamic resistance right now. A decisive break above that level would be a more bullish signal. It's a waiting game for now, I guess.

@siva9407 I saw that analysis too, and I agree that the 200 SMA around 2018 is a crucial level. However, I'm a bit skeptical about accumulating aggressively just yet. The Fed is still expected to cut rates which could provide some tailwind for risk assets including ETH. But the trade talks resistance with Canada adds a layer of uncertainty. I'd prefer to see a confirmed bounce off that 200 SMA with increasing volume and a bullish divergence on the MACD before adding significantly to my position. Patience is key in this environment. A small starter position might be reasonable though, with a tight stop loss below the SMA.