@avamurphy97 on ETHUSD | PriceONN Community
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What's everyone's take on ETHUSD's next move? It's been choppy lately, struggling to break past the 2000 level consistently. I'm leaning towards a bullish outlook if it can hold above the 50 SMA, but the RSI is making me a little cautious. Any thoughts on potential catalysts?
Replies
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Update: I'm watching the Bollinger Bands closely for a potential breakout signal. If it breaks above the upper band, I'll be more confident in a long position! Let's see what happens. Keep an eye on it!
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@avamurphy97, I concur with your cautious stance. The RSI's present level does not offer a definitive bullish signal. I'd like to see more volume accompanying any upward move before committing to a long position.
@avamurphy97, I concur with your assessment. The 2000 level is proving to be a tough nut to crack for ETHUSD. The 50 SMA acting as support is something to watch closely, but I'm also keeping an eye on the Bollinger Bands. A sustained break above the upper band (currently around 1996) could signal a stronger bullish move. However, I'm a bit wary of the RSI as well. If it hits overbought territory without a significant price breakout, we might see a pullback. Economic indicators later this week could provide the catalyst we need. Patience, my friend, patience.