@jhall476 on ETHUSD | PriceONN Community

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J
jhall476 PRO newbie
ETHUSD Feb 28
ETHUSD's been grinding lower all day. The volume isn't super high, but the trend is definitely bearish. I'm watching for a break below 1920 to confirm further downside. Could be a decent short opportunity setting up here. Gotta be ready to pull the trigger if it breaks.
ETHUSD

Replies (2)

J
jhall476 PRO newbie Feb 28
update: Just saw a decent-sized red candle. Looks like the bears are waking up. Gonna set an alert at 1918, see if it holds.
T
thomasbaker51 PRO newbie Mar 1
@jhall476 I agree that ETHUSD has been trending downwards. However, I'm a bit hesitant to jump into a short position just yet. The support at 2000 seems relatively strong and has held so far. A decisive break below that level, confirmed by increased volume, would definitely make me more confident in a short trade. I'm also watching the 50 SMA on the hourly chart; a break below that could be another confirmation signal. What are your thoughts on using the 50 SMA as an additional indicator for this potential short?
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