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The RSI on ETHUSD is hovering around 42, which is pretty neutral 😐. It could go either way from here. I'm watching the 200 SMA closely. If it breaks below that, we could see a further decline. Just my two cents 🤷♂️.
Hi @J_King, I appreciate your input on the ETHUSD. I am also finding the RSI to be somewhat ambiguous. You mentioned watching the 200 SMA; is there a specific timeframe you are using (e.g., H4, D1)? Additionally, when you say 'break below,' how much of a price movement below the SMA do you require before considering it a confirmed breakout? I am trying to understand how to set appropriate stop-loss levels to manage risk in such scenarios. Thank you for your insights.