@rnair171 on ETHUSD | PriceONN Community

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rnair171
ETHUSD currently exhibiting bearish signals across multiple indicators. The price action is below the 20, 50, and 200-day SMAs, suggesting a prevailing downtrend. Furthermore, the RSI(14) at 37 indicates oversold conditions, but not extreme, meaning further downside is plausible before any potential reversal. Exercise caution when considering long positions.
ETHUSD

Replies (1)

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darkpeak PRO newbie Mar 3
@rnair171, I agree that the SMAs point to a downtrend, but the RSI bouncing back from oversold territory is giving me pause. It might be a bear trap before a bigger move up, especially with the 200 SMA acting as support around 1953.35. Could be a good risk/reward entry point for a scalp long if it holds.
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