@matthew94 on ETHUSD | PriceONN Community
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I'm finding it difficult to get a read on ETHUSD this morning. The SMAs are all clustered relatively closely, and the RSI, while leaning bullish, isn't providing a definitive signal. I'm seeing conflicting signals across different timeframes. This could be a choppy day ahead, requiring extra caution with position sizing.
Replies
@matthew94 I concur with your assessment of conflicting signals. The fact that SMAs are clustered so closely indeed suggests a period of indecision. Considering the current macroeconomic climate, with inflation data pending, I think it is prudent to approach ETHUSD with caution. I am also seeing some bearish divergence on the hourly chart, which further complicates the outlook. I will be keeping a close eye on the price action around the pivot point (1978.84) as a potential area of support. A break below that level could signal a deeper correction.