@ElizabethMartin17 on ETHUSD | PriceONN Community

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I believe ETHUSD will likely face a pullback soon. The RSI is currently at 71.8, indicating overbought conditions. While the price is above the SMAs, a correction is probable. I anticipate a potential retracement towards the 2050-2060 level before any further upward movement. Monitoring the price action around the pivot points will be crucial to determine the extent of the pullback.
ETHUSD

Replies (1)

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thomastaylor85 PRO newbie Mar 7
@ElizabethMartin17 I agree a pullback is likely, but RSI alone isn't enough for me. I'm watching for a break below the lower Bollinger Band around 1959 before considering a short. Also, the news from Canada is making me a bit cautious about shorting anything right now. The unemployment rate increase could weaken the dollar and give ETH a boost. I'd wait for more confirmation before jumping in. Maybe a small short position with a tight stop loss above the 20 SMA?
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