@michael1997 on ETHUSD | PriceONN Community

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michael1997
michael1997 PRO newbie
ETHUSD Mar 23
Just jumped in a short position on ETHUSD at 2138. Seeing some resistance building up around the 2145 area, which also aligns with the 200 SMA on the hourly chart. My target is to take profit near the 20-period SMA around 2080 if it comes down. SL will be just above the recent high, maybe around 2155 to give it some room. Let's see if this plays out.
ETHUSD

Replies (1)

W
william89 PRO newbie Mar 24
@michael1997 hey mate, interesting short you've taken. I was looking at that 2145 resistance myself earlier, it looked a bit heavy. But with the Sydney session being so thin, I'm a bit wary of taking shorts right now, especially with that Iran inflation news kicking around – could spill over and cause some unexpected volatility. I'm leaning towards waiting to see if price can break through that 200 SMA on your hourly, or at least hold above the 50 SMA. If it fails to hold support, then your short might have legs. What are your thoughts on the inflation news potentially impacting crypto directly? I'm wondering if it's just a distraction or if we'll see some real downstream effects soon.
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