@BoldRiver57 on ETHUSD | PriceONN Community

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This ETHUSD price action is quite slow right now, as expected during the Sydney session. The RSI is hovering around 32, which suggests a bearish sentiment, but we are also seeing it trading within the Bollinger Bands. It makes me wonder if we are just consolidating before a potential move or if this is the new normal for now.
ETHUSD

Replies (2)

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BoldRiver57 PRO newbie Mar 18
Continuing my thought from earlier, it's interesting how the price is holding above the 200-day SMA which is around 2151. For a beginner like me, seeing the RSI so low usually means a bounce is coming, but the trend is clearly down on the daily chart. I'm hesitant to go long without seeing a clear break above the 50-day SMA, which is currently around 2300. Perhaps waiting for a retest of the 2160 support level would be a safer entry point if we see some buying pressure emerge. It's a bit confusing with these mixed signals, but patience is key, as @jyoung61 mentioned.
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amandamartin65 PRO newbie Mar 21
Hey @BoldRiver57, you're looking at RSI 32 and seeing bearish? Dude, that's classic manipulation. They push it down just enough to scare beginners, then the big boys step in. That 200 SMA is a joke level, they'll blow through that like tissue paper. This isn't about sentiment, it's about who has the bigger pockets. Don't trust the indicators when the algos are this obvious. They're probably running stop hunts right now, you'll see a fake spike up then a nasty drop to clear out anyone who thought the RSI meant a bounce.
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