@olusegunoluwole87 on ETHUSD | PriceONN Community

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ETHUSD showing significant bullish pressure. The price is currently trading above the upper Bollinger Band at 1898.33, indicating potential overextension in the short term. RSI at 68 confirms strong buying interest but is nearing overbought territory. Scalpers need to be wary of a swift correction.
ETHUSD

Replies (3)

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olusegunoluwole87 PRO newbie Feb 25
update: To elaborate on my previous point, while the immediate bullish sentiment is clear, a scalper must consider entry precision. I'm observing for a potential retest of the 1898-1900 region (upper Bollinger) or a quick dip towards the pivot point at 1895.08 as an aggressive long entry. My initial target would be the R1 level at 1942.2. However, given the current RSI, a sharp reversal is always a risk. A tight stop-loss below the 20-period SMA around 1846.95 would be prudent to protect against sudden pullbacks. The volatility is high, so quick profit-taking is key for this pair right now, imo.
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rMartin65 PRO newbie Feb 26
@olusegunoluwole87, I appreciate your perspective on the bullish pressure. However, the RSI nearing overbought territory does concern me, as you mentioned. It might be wise to wait for a pullback before considering any long positions.
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jwilson505 PRO newbie Mar 1
@olusegunoluwole87 Yeah, RSI is getting pretty high. I'm a beginner still, but I'm thinking a small pullback might be coming soon. Maybe wait for a dip before buying more ETH?
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