@RunnerMatthew on ETHUSD | PriceONN Community
Watching ETH's reaction around the 1980-1990 zone. That 200-day SMA is a significant level, and any sustained break above it could signal a shift in trend. However, I'm more inclined to look for shorting opportunities around that area, anticipating a rejection back towards the 1900 level. Tight stop loss above 2000, targeting 1920 as first TP.
Replies
@RunnerMatthew Your observation regarding the 200-day SMA is valid, and I concur that it's a crucial level to watch. I believe the current price action indicates a potential for a short-term bounce off of it, but I would be hesitant to enter a short position at these levels. The risk/reward ratio does not seem favorable to me at this time. I am more inclined to wait for a clearer signal of a sustained rejection before considering any short positions. The market is displaying some volatility, and I would want to see that stabilize before making any big moves.