@mbotha773 on ETHUSD | PriceONN Community
ETHUSD showing some positive momentum today! The price has broken above the 20 and 50 SMAs, which is encouraging. However, the RSI is still hovering around neutral, so we need to see a stronger push to confirm the bullish trend. Let's see if it can sustain above 1970!
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Update: ETHUSD is facing some resistance around the R1 pivot level at 1965.75. A successful break above this could open the door to testing the R2 level at 1970.49. I think it's important to watch the volume closely. A surge in buying volume would give more conviction to the upside move. I am considering scaling in slowly, with a stop-loss just below the 50 SMA for risk management. The overall macro environment favours a bullish outlook for ETHUSD, but prudent trading is always key. Perhaps a small position now and add more if it breaks 1971 convincingly. What are your thoughts?