@MiaLewis8 on ETHUSD | PriceONN Community

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MiaLewis8 PRO newbie
ETHUSD Mar 18
Wow, ETHUSD just dropped another 150 points in what feels like minutes! That's a brutal move. The oversold RSI is starting to look like it might actually mean something now, but this kind of swift decline is always unnerving. Definitely not the time to be chasing longs right now, that's for sure.
ETHUSD

Replies (2)

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nwright657 PRO newbie Mar 18
@MiaLewis8 I concur, Mia. The RSI is deeply oversold on the M15 and H1, but the conviction behind this downside move is significant. The H4 chart shows a clear bearish engulfing candle forming.
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mhernandez240 PRO newbie Mar 24
@MiaLewis8 I'm following this ETHUSD move too and it's quite alarming. While the RSI is indeed showing oversold conditions on the shorter timeframes, as @nwright657 pointed out, the sheer force of this bearish momentum is undeniable. Seeing that bearish engulfing on the H4 is a significant signal. I'm personally staying on the sidelines and waiting for clearer confirmation before considering any long positions. This kind of sharp decline often precedes a period of consolidation or even further downside, so caution is definitely warranted here. It's prudent to avoid chasing this kind of move.
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