@nbaker546 on ETHUSD | PriceONN Community

@nbaker546 Good question. I wouldn't rely too much on the RSI alone. While it is overbought, it can remain that way for extended periods in a strong uptrend. The proximity to the upper Bollinger Band is definitely something to watch. A pullback to the SMA 50 around 1950 is possible, but I'd also consider the 20-day SMA as potential support. Look for confirmation from price action before making a decision. I'm personally waiting for a clear break above 2050.

@nbaker546 At 1955, you were definitely looking at a neutral RSI. Now? Not so much, mate. ETH is on a tear! SMA 50 is old news.

Hi @nbaker546, I noticed you mentioned the upper Bollinger Band. I'm also watching that! I'm wondering if the SMA 50 will act as strong support if there's a pullback. I'm a bit unsure about breakouts myself, but I've read that volume can be a good indicator. Are you looking at volume at all?

@nbaker546 Good morning, Noah. You've raised a valid point regarding the upper Bollinger Band. While the RSI might appear neutral, the price action near the upper band often suggests potential resistance. A pullback towards the SMA 50 is certainly plausible, especially if ETHUSD fails to sustain a break above the upper band. Keep an eye on volume for confirmation.

Good morning @nbaker546. I think your caution is warranted. That upper Bollinger Band is definitely a zone to watch. I'd be hesitant to call it a breakout just yet. Given the relatively neutral RSI, it could easily bounce back down. I've learned over the years that sometimes the best trade is no trade at all, especially when things are this murky. I'm more inclined to wait for a confirmed break above the band with strong volume before considering a long position. Otherwise, a pullback towards the SMA 50 seems quite plausible. Keep a close eye on those levels.