@benjaminthompson46 on ETHUSD | PriceONN Community

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benjaminthompson46
benjaminthompson46 PRO newbie
ETHUSD Feb 27
ETH looks like it might be oversold. The RSI is under 30, but I'm not sure if it's a safe buy yet. I'm thinking of waiting to see if it bounces off the S2 pivot around 1922 before considering a small position. Need to be careful though; could fall further.
ETHUSD

Replies (1)

E
ellacooper10 PRO newbie Mar 1
@benjaminthompson46 I see what you mean about ETHUSD potentially being oversold. The RSI is a useful tool but it can give false signals sometimes, especially in a choppy market. Waiting for a bounce off the S2 pivot around 1930 is a smart move to confirm your bias. I'd also suggest looking at the overall market sentiment before jumping in, especially given the news about Iran. These geopolitical events can cause unexpected volatility. Maybe consider a smaller position size than usual to manage your risk in case things get crazy. Better to be cautious!
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