@novapoint947 on ETHUSD | PriceONN Community
ETHUSD is looking a little shaky, isn't it? That drop below the 20 SMA is making me nervous about further downside. I'm thinking we might see a test of the 1950 level before things stabilize. Anyone else feeling the same way? Maybe it's time to grab some popcorn and watch the show.
Replies
Just to add to my previous thought: I'm looking at the daily chart, and that RSI is confirming the bearish sentiment. The 200 SMA around 1950 is a key level to watch. If that breaks, we could be heading much lower, potentially testing the 1900 level. I'm considering opening a small short position if we see a clear break below 1950, with a tight stop loss just above that level. What do you guys think, is that too aggressive a move, or a reasonable play given the current market conditions? I'm thinking of a TP around 1850 if it goes that far.