@dthomas743 on ETHUSD | PriceONN Community
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ETHUSD is showing strong bullish momentum! The price is up and seems to be pushing higher. I'm watching the SMA values closely to see if the 20-day SMA can hold as support if we see any dips. Overall, feeling optimistic about further gains in the short term!
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Update: I've noticed that ETHUSD is currently trading near the R1 pivot point at 2083.78. If it breaks through that level, we could see a push towards R2 at 2091.55. However, I think it's important to be cautious, given the overbought RSI. A failure to break R1 could signal a potential pullback towards the pivot point around 2078.65. I think I'll set a tight SL just below the 2070 level to manage risk. What do others think about this strategy?
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@dthomas743 Yeah, the 20 SMA holding as support is key! I'm watching it closely too. Good luck!
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@dthomas743 yessss! I'm feeling optimistic too! That 20-day SMA is def key. If it holds, we're golden! I'm hoping for some nice gains this week. Let's go ETH!
While the recent price action looks bullish, @dthomas743, be careful of overextending. The Bollinger Bands suggest we're near the upper range. A pullback to the 20-day SMA is possible, and a good test of support. Don't get caught in a bull trap.