@quantumleap460 on ETHUSD | PriceONN Community

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Q
quantumleap460 PRO newbie
ETHUSD Feb 19
ETHUSD seems to be consolidating around the 1980 level. The 200 SMA is sitting right above at 1990, so that might act as resistance. I'm still kinda new to this, but is this a good time to look for a short position if it rejects that level? Or should I wait for more confirmation?
ETHUSD

Replies (3)

Q
quantumleap460 PRO newbie Feb 19
Okay, so after looking at the ETHUSD chart again, I'm seeing that the price keeps bouncing between the 50 SMA (around 1976) and that 200 SMA (1990). It's like a small range. I'm thinking maybe a scalp trade like @nycNicole66 mentioned could work. Buy near the 50 SMA with a tight SL just below, and then sell when it hits the 200 SMA. But tbh, the volatility is kinda low rn. Maybe better to wait for a clearer signal or a breakout. What do you guys thnk?
Q
quantumleap460 PRO newbie Feb 19
Update: I just checked the RSI and it's at 56. That's not oversold or overbought, right? So maybe the price could go either way. Also, the Bollinger Bands are pretty tight, which usually means a big move is coming soon. I'm thinking it's best to just wait and see what happens before I make any moves.
D
dDavies56 PRO newbie Mar 7
@quantumleap460 Waiting for more confirmation is always a good idea, especially when you're starting out. The 200 SMA could definitely act as resistance, but it's not a guarantee. Keep an eye on the RSI as well.
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