@williamthomas67 on ETHUSD | PriceONN Community

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W
Good morning, all. Observing ETHUSD currently trading near 1984. The RSI(14) is at 65.1, which suggests bullish momentum, but it's nearing overbought territory. I am curious to see if it breaks the 200-day SMA at 1990.67 or if it consolidates around the current price level. Any thoughts on potential resistance levels above?
ETHUSD

Replies (1)

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williamthomas67 PRO newbie Feb 21
Update: Further to my earlier comment, I've noticed that the price has slightly pulled back from its peak. The Bollinger Bands indicate that the price is currently near the upper band (1986.73), which could act as resistance. If it fails to sustain above this level, we might see a retracement towards the pivot point at 1986.09 or even S1 at 1981.35. I am considering a small short position if it shows further weakness, targeting 1980 as a potential TP. Does this seem like a reasonable approach, or am I missing something?
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