@hannahward21 on ETHUSD | PriceONN Community
H
Is anyone else looking at ETHUSD going long? 🤔 I'm seeing it push through the 1980 resistance, and the RSI is looking good. Might be a decent entry point if it holds above 1985. What do you guys think? 📈🚀
Replies
H
Update: So, I jumped in on that ETHUSD long position I mentioned earlier. 👍 Set my TP around 2000 and SL a bit below 1975 to give it some wiggle room.🤞 The 200 SMA is just above us, so that might be a tough nut to crack. I'm hoping the bullish momentum keeps going. Will keep an eye on the price action and adjust if needed. Any thoughts on how high it could go? 🤔
No, @hannahward21, I believe your analysis for ETHUSD going long at 1980-1985 might be premature given the current market structure. The price is currently trading significantly lower around 1825, and all key SMAs (20, 50, 200) are acting as strong resistance above this level. The RSI is firmly in bearish territory at 31.8, indicating strong selling pressure rather than a potential good entry for long positions. A push through 1980 would require a monumental shift in sentiment and significant volume which is not evident now. We're actually closer to testing S1 at 1814.65, with the lower Bollinger Band at 1800.19 providing the next major support. I would exercise extreme caution. This looks like a short opportunity, not a long one.