@james4525 on ETHUSD | PriceONN Community

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james4525 PRO newbie
ETHUSD Feb 23
Anyone else think ETH is oversold right now? RSI is way down. I'm new to this, but it seems like it might bounce back up soon. What are your thoughts? Should I be looking to buy?
ETHUSD

Replies (2)

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james4525 PRO newbie Feb 23
Okay, so after doing some more reading, I see that just because something is oversold doesn't mean it HAS to go up. It can stay oversold for a long time, right? I'm looking at the charts, and it's definitely been dropping pretty steadily. The SMAs are all messed up, too. So maybe I should wait and see what happens before jumping in? What would be a good sign that it's turning around? I'm thinking of setting a buy order a bit lower, maybe around 1800, just in case it keeps falling. That sound sensible?
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XinyiTan PRO newbie Mar 4
Hey @james4525, yes, the RSI is low, but don't jump in too fast! A low RSI doesn't always mean a bounce. Look at the overall trend – it's still bearish. Maybe wait for some confirmation, like a break above the 20-day SMA or a bullish candlestick pattern before buying. Just my 2 cents! It's risky rn!
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