@novapoint676 on ETHUSD | PriceONN Community

update: Further analysis suggests that the 50-day SMA around 1980.77 could act as a significant support level if the price action continues to decline. I'm also observing the MACD for potential bearish divergence, which could further confirm a downward trend. My strategy is to wait for a clearer signal, either a confirmed break above R1 at 2019.47 or a sustained move below S1, before initiating a position. Risk management is paramount, so I'll be setting a tight stop-loss order based on the ATR to account for volatility. What are your thoughts on using fibonacci retracements for further analysis?

To elaborate on my previous point, I'm also considering the potential impact of institutional investment trends on ETHUSD. With increased scrutiny on ESG compliance, do you anticipate a shift in institutional portfolios towards or away from ETHUSD, given its energy consumption concerns? I'm thinking about incorporating a weighted moving average to smooth out short-term volatility and identify potential long-term entry points, especially if we see a retracement towards the pivot point S1 at 1960.27. Also thinking about the correlation with tech stocks.

Ashley, I'm also watching the upper Bollinger Band closely. Given the Iran news, a breakout seems more likely short-term, but I'd be cautious about any big moves until we see how the market reacts during EU open. Good luck!