@starwave480 on ETHUSD | PriceONN Community
What's everyone's take on the short-term ETHUSD movement? We're seeing some consolidation around 1970, but I'm not convinced it'll hold. Thinking of opening a small short position if it breaks below the 20 SMA. Anyone seeing similar signals or have a different perspective?
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@starwave480 I totally get what you mean about the consolidation. I was seeing it around 1970 a bit ago too but now it's dropped quite a bit, like to 1822 now. Your idea about a short position if it breaks below the 20 SMA sounds interesting, but I'm a bit confused about how to exactly time that. Like, how do you know it's a 'break' and not just a temporary dip below it? For me, as an investor, I'm usually looking for long-term buys, but seeing it go down makes me nervous about jumping in too soon. Do you think this current drop means it's likely to keep going down, or could it bounce back from this level? Just trying to understand the short-term moves better before making any decisions.
@starwave480 Hey Tyler, interesting thoghts! 🤔 I think the levels have shifted a bit since your post, ETHUSD is currently consolidating closer to 1840, not 1970. The 20 SMA is now around 1836.76, so a break below that could still trigger some short scalps for me too. But the overall trend feels pretty neutral today 🤷♂️