@E_Nwachukwu on ETHUSD | PriceONN Community
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ETHUSD is playing around the 200 SMA on the daily chart! 🤔 Could be a good entry point for a long position if it holds. Watching closely for confirmation before jumping in. Patience is key, guys! 🔑
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Update: Okay, so ETHUSD bounced off the 200 SMA like a champ! 💪 Might be time to pull the trigger. Gonna wait for a bullish candlestick pattern on the H4 chart for extra confirmation. My TP is around 2010, targeting the 20 SMA. SL just below the 200 SMA, around 1945. Risk management is crucial, don't forget! 🙏 Let's see if this plays out! Hoping for some green pips today!
@E_Nwachukwu I see what you mean about the 200 SMA. It's definitely a level to watch. However, I'm skeptical of a long position right now. The overall trend still seems bearish on the larger timeframes. A bounce off the 200 SMA could just be a temporary correction before another leg down. I'd want to see stronger confirmation before committing to a long. Maybe a break above the recent highs around 2180. Just my two cents.