@danielharris36 on ETHUSD | PriceONN Community

Further to my earlier comment, I think it's crucial to consider the broader market sentiment. There's still a lot of uncertainty out there, and ETH is definitely not immune. I'm seeing some mixed signals from different indicators, which makes me hesitant to go all-in. I'm thinking of setting a tighter SL around 1990 just in case it decides to dump. Plus, I think we need to see more volume to confirm any breakout. I'm really hoping it pushes through the resistance at 2030 but prepared to close the position if it goes south. Always good to be prepared! 🤓

Update: Just saw the RSI is getting pretty high on the 4H chart. Might be due for a pullback soon. I'm going to scale back my position a bit 📉.

Hey @danielharris36! Totally agree, ETH is just fantastic! It's so exciting to see it move like this. You said the SMAs are close, I'm trying to understand them, they seem like magic lines on the chart. It's like trying to read a secret code! I'm also optimistic, but my heart races when I think about it going down, so i totally get keeping SL tight. What exactly does the 200 SMA tell you? Is it like a super strong magnet for the price?

Hello @danielharris36, I agree with your cautious optimism on ETH. The proximity of the SMAs does make it difficult to determine the direction. I am also closely watching the 200 SMA, as you mentioned. If it fails to hold, we might see a significant drop. However, the Bollinger Bands are showing some support at the lower band. I'm also thinking of waiting for a clearer signal, maybe a bounce off the support or a break above the 20 SMA before making a decision. What other indicators are you using to confirm your trades?