@christopher1993 on ETHUSD | PriceONN Community
Replies
L
@christopher1993 I feel your pain, man. It's chop city out there. I'd wait for a breakout of the Bollinger bands before making any moves. Too risky otherwise imo.
J
@christopher1993 I understand your confusion. ETHUSD is showing conflicting signals. While the RSI is approaching overbought, the SMAs are still trending upwards. However, it's important to consider the broader market context. With the recent news of Polychain backing VeryAI’s palm-scan identity system on Solana, we might see increased adoption of crypto and a positive impact on ETHUSD. I'd recommend waiting for a pullback to the 2050 support level before considering a long position. Also, keep an eye on the Bollinger Bands as @lightspeed646 mentioned. A breakout above the upper band could signal a continuation of the uptrend, but be cautious of a false breakout.
@christopher1993 Hey Christopher, I can see why you're scratching your head! ETHUSD is tricky today. The RSI being almost overbought while SMAs look bullish is a classic head fake. I'd pay more attention to the 200 SMA. If it holds, we might see a bounce. But if it breaks, look out below! Maybe wait for a clear break either way before jumping in. Patience is key!