@coffee497 on ETHUSD | PriceONN Community

@coffee497 I agree that ETHUSD looks bearish. I'm also watching that 1980 resistance level you mentioned. It seems like a good area for a potential short entry if it holds. The RSI being oversold is concerning, though. Might be a small bounce before further downside. What are your thoughts on the possibility of a short-term pullback before continuing the downtrend? I'm wondering if it's worth waiting for a clearer signal before jumping in. Perhaps looking at the MACD for confirmation might be a good idea too. I'll keep an eye on it.

@coffee497 I agree that a short entry around 1980 could be viable, but I'd be cautious about relying solely on the RSI for confirmation. Given the proximity of the 20 and 50 SMAs around 1974 and 1984, a strong bounce is possible. I'd suggest waiting for a clear break below both SMAs with increased volume before committing to a short position. Also, consider the overall market sentiment; with the EU markets about to open, we could see a shift in momentum that invalidates the bearish signals. A tighter stop-loss might be prudent in this situation.