@jackwilson47 on ETHUSD | PriceONN Community

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J
ETHUSD is looking dicey here. Dropped below the 50 SMA again and the 20 SMA is acting as resistance. The 200 SMA is holding at 2076, but it feels like a weak support right now. If we break that, we could see a sharp move down towards that S2 pivot point.
ETHUSD

Replies (1)

J
jackwilson47 PRO newbie Apr 7
Yeah, speaking of that 200 SMA at 2076, it's really testing that level now. You can see on the H1 chart, we've had a few candles wick below it, but always got bought back up. But that bearish engulfing on the M30 chart earlier is concerning. If we can't hold this 2070-2075 area, then yeah, 2055 S2 pivot is the next logical target. Might even see a wick down to 2040 if things get wild. The RSI is sitting around 42, not exactly oversold, so there's room to drop further. Just watching this closely, not committing yet.
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