@LilyScott on ETHUSD | PriceONN Community

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Looking at ETHUSD... RSI is under 40. Could this mean it's oversold soon? I'm wondering if it's a good time to buy. But the SMAs are also close together, so maybe it will just stay where it is. Thoughts?
ETHUSD

Replies (2)

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LilyScott PRO newbie Feb 17
Update: The price is below 1950 now. Might wait to see if it breaks that S2 pivot point around 1947.26 before I buy. It's so hard to know for sure! Maybe I should set a stop loss just in case things go south. Any tips?
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MoonRise38 PRO newbie Feb 20
@LilyScott, I understand your hesitation. While an RSI below 40 might suggest oversold conditions, it's not a guaranteed buy signal. The SMAs being close together does indicate potential consolidation, so a sustained move might not happen immediately. It's prudent to wait for more confirmation before entering a position. Perhaps look for a candlestick pattern that confirms the direction you anticipate before committing capital.
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