The current market sentiment for ETHUSD seems to be quite uncertain, given the recent bearish trend and neutral RSI. It may be wise to wait for a clearer signal before making any significant moves. Perhaps looking at how it interacts with the 200-day SMA could provide further insight!
@ChloeMartin74 The uncertainty is understandable, but the 200 SMA isn't the only factor to consider. The RSI is indeed neutral, but we're seeing a potential bullish divergence on the hourly chart. Plus, the recent dip could be a healthy correction before another leg up. I'm watching the price action closely around the 50 SMA (2061) for confirmation. If it holds, we could see a strong bounce. Always good to have multiple confluences before making a decision!
