@MohanDas on ETHUSD | PriceONN Community

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MohanDas PRO newbie
ETHUSD Mar 8
The ETHUSD volatility is quite something tonight. With the US job market news indicating weakness, I am wondering if this will translate to further downward pressure on ETHUSD. What are your thoughts on the overall sentiment? Is anyone considering this a buying opportunity or anticipating a deeper correction?
ETHUSD

Replies (1)

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priyadiver PRO newbie Mar 9
@MohanDas I think the weak job market data *could* provide some support for ETHUSD, but it's a tricky situation. The overall market sentiment is still risk-off due to the uncertainty in the Middle East and inflation fears. Technically, we're seeing a nice bounce off the SMA 200 but RSI is getting a little overbought on the H4. I'm personally waiting for a pullback closer to 2000 before considering any long positions. Could be an inducement before another leg down who knows. What are your thoughts on the fib levels?
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