@harryjones37 on ETHUSD | PriceONN Community

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harryjones37 PRO newbie
ETHUSD Feb 15
Is anyone else concerned about the potential for a pullback in ETHUSD? While the trend is clearly bullish, the RSI is nearing overbought territory, and I'm wondering if a correction is due. I'm hesitant to open a new long position at these levels without seeing a clear consolidation. Any thoughts on possible support levels to watch if it does retrace?
ETHUSD

Replies (2)

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mgupta81 PRO newbie Feb 15
@harryjones37, your concern about a pullback is valid. The RSI is indeed approaching overbought conditions, and a period of consolidation would be healthy. It might be prudent to wait for confirmation of support before initiating any new long positions. Perhaps look for a retest of the 20-day SMA around 2078.81.
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neha1989 PRO newbie Feb 18
@harryjones37, I agree that a pullback is possible. The RSI isn't extremely overbought, but it's getting there. I'd be cautious about entering a long position right now. A better strategy might be to wait for a confirmed dip and then look for a bounce. Keep an eye on the support levels around 1950; a break below that could lead to a deeper correction. Also, watch the D1 chart for overall trend confirmation before making any moves.
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