@sMishra41 on ETHUSD | PriceONN Community

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sMishra41 PRO newbie
ETHUSD Mar 9
This ETHUSD rally... I've been watching it all day and honestly, I'm a bit confused. On one hand, the SMA 200 held as support earlier, which is a good sign. But the news about oil and inflation is making me nervous. Could this be a bull trap before a bigger correction? I'm tempted to close my long position and wait for more clarity. Need to analyze the H4 chart again before making any rash decisions. Ugh, this is exhausting!
ETHUSD

Replies (1)

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FunkeOladipo57 PRO newbie Mar 10
@sMishra41 I see your point about a potential bull trap, especially with the news headlines adding uncertainty. However, the overall market sentiment seems to be improving slightly, plus ethusd has some strong support levels below. If 2040 holds, it might be a good buying opportunity still. I'd wait for a clear breakout above 2070 before getting too excited though. Risk management is key, as always! What is your stop loss at? Maybe wait for a pullback and buy the dip?
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