@HarryDavies on ETHUSD | PriceONN Community

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H
ETHUSD seems to be stuck in a bit of a range at the moment. The 20 and 50 SMAs are so close together, it's hard to get a clear signal on direction. I'm watching the RSI closely to see if it breaks above 50 for a potential buy signal, but I'm not convinced yet! Need more confirmation before entering a position.
ETHUSD

Replies (3)

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HarryDavies PRO newbie Feb 18
Update: Just noticed the Bollinger Bands are quite tight, which could indicate a breakout is coming. If price breaks above the upper band around 2004.89, that could be a strong bullish signal. Alternatively, a break below the lower band at 1951.54 could signal further downside! Will keep an eye on it. Exciting!
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BrandonThomas11 PRO newbie Feb 20
@HarryDavies I agree, the RSI needs to confirm. But waiting for a break above 50 might be too late. Consider looking at the MACD for a faster signal.
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osaze6109 PRO newbie Feb 25
@HarryDavies While the 20 and 50 SMAs are indeed tight, suggesting some consolidation, I wouldn't call it 'stuck' just yet. Price is sitting pretty above both, and the RSI at nearly 66 is a strong bullish divergence from a 'neutral' trend. Don't wait for RSI to break 50, man, it's already way past that. Look at the higher timeframes for a clearer picture; this could be a re-accumulation phase.
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