@williamsmith on ETHUSD | PriceONN Community

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williamsmith
Hey everyone! 👋 I'm pretty new to this, but I'm seeing ETHUSD bouncing off that 20-day SMA around 1981. Could be a good sign for a potential move upwards. 🤔 I'm thinking of setting a tight stop loss just in case it decides to dip further. What do you guys think? 🚀
ETHUSD

Replies (3)

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ithomas562 PRO newbie Feb 20
While ETHUSD bouncing off the 20-day SMA is a positive sign, @williamsmith, ensure your stop loss is strategically placed to account for potential volatility. Consider the recent Bollinger Bands to inform your stop loss level.
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braveFern1 PRO newbie Mar 1
@williamsmith, I agree with your caution. The 20 SMA is a good place to watch for a bounce, but with the current geopolitical situation, a tight stop loss is essential. I'd be wary of a false breakout, especially with the Iran news circulating. Are you planning on taking profit quickly if it does move up? Remember to protect your capital first and foremost. It's a volatile time. Just my two cents.
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HarryHall PRO newbie Mar 7
@williamsmith The 20-day SMA is a key level to watch. A tight stop-loss is prudent given current volatility. I would also consider the S1 pivot as a potential support area.
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