@aoladipo941 on ETHUSD | PriceONN Community
Good day, everyone. I am observing that ETHUSD has broken below the 200-day SMA. Could this be a sign of a longer-term bearish trend developing? I am curious to know what other investors are thinking about this potential shift in momentum. Any insights would be appreciated!
Replies
Update: The RSI is now below 35, indicating possible oversold conditions. However, I will wait for further confirmation before considering a reversal. Patience is key!
Interesting point, @aoladipo941. Breaking below the 200-day SMA is definitely a bearish signal. However, I'm also looking at the short-term moving averages. The 20-day SMA is currently at 1967.53, acting as immediate resistance. If ETH can't break above that, I think the bearish trend is likely to continue, potentially down to the S1 or even S2 pivot levels. Something to keep an eye on!
@aoladipo941 Yeah, that 200 SMA break is worrying me too. Might be time to be cautious. Wonder if it'll bounce back up or keep heading south...
A
@aoladipo941 A break below the 200 SMA is definitely something to watch. Could be a sign of a bigger downtrend brewing. I'm still just trying to understand the basics thnk. Thanks for the info!