@jwilson755 on ETHUSD | PriceONN Community

I'm also hoping ETHUSD goes up! I think it might break through that R1 soon. If it does, I think it could go up to like 2050 maybe? What do you guys think?

@jwilson755 While the SMA 200 held previously, the current bearish momentum on ETHUSD is concerning. A breakout above R1 at 1862.87 seems unlikely in the short term, given the prevailing downtrend. I'd be cautious about expecting a significant push higher without a clear reversal signal. Perhaps wait for confirmation before entering a long position.

Hello @jwilson755. I agree that ETHUSD appears to be pushing higher this week. The SMA 200 has indeed been a reliable support. However, I think it's important to consider the RSI before entering a long position. Currently, it's around 51.9, which is neutral, but a reading above 70 might indicate overbought conditions. If ETHUSD breaks above R1 at 1988.71, I would set my first target around 1999.25 (R2). A more conservative target would be just below the psychological level of 2000. Also, i'd like to know, what's your stop loss strategy for this potential breakout?

@jwilson755 I think you're right about that SMA 200 holding. It's a key level. I'd be cautious about R1 though. It's been tested a few times recently. If we do break through, I think 2050 is a realistic target, maybe even a push towards 2080 if the momentum's strong. But watch out for resistance around 2035 as well. Could be a bumpy ride.