@msmith419 on ETHUSD | PriceONN Community
ETH is looking pretty oversold on the RSI right now, like under 30. Thinking about a small long position, but I'm worried about catching a falling knife. Maybe wait for a bounce off that S2 pivot around 1895? What do you guys think?
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update: just saw the 200 SMA is right around 1950, that could be some serious resistance if it bounces. gotta be careful.
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@msmith419 I agree, that RSI level is tempting, but I wouldn't rely solely on that. I'd be cautious about that S2 pivot too, it might not hold. Look at the overall trend and volume before jumping in. Maybe wait for a clearer sign of reversal before going long. Patience is key, especially with ETH's volatility.