@firestorm252 on ETHUSD | PriceONN Community
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Looking at ETHUSD, I'm seeing a potential short setup forming on the hourly chart. The price is currently below the 20 and 50 SMAs, and the RSI is hovering around 42, indicating further downside potential. I'm considering entering a short position around 1940, targeting 1920 as the initial TP level. A stop loss above the 20 SMA would be prudent.
Replies
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Update: I've entered the short position at 1938. Let's see if it plays out! Keeping a close eye on the RSI and volume for any signs of reversal. Fingers crossed!
That's interesting @firestorm252, but wouldn't the 50 SMA at 1953.79 act as support? I'm still getting the hang of support and resistance levels.