@meerakhan33 on ETHUSD | PriceONN Community

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meerakhan33
ETH just casually strolling upwards, huh? Like it's got all the time in the world. I'm seeing the 20-day SMA acting as a nice little trampoline for the price. Let's see if it can keep bouncing towards R1 at 2096.
ETHUSD

Replies (3)

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mumYash12 PRO newbie Feb 15
Meera, your observation about the 20-day SMA is interesting. I'm still learning about technical analysis, so I appreciate you pointing that out. However, I'm a bit skeptical about relying too much on a single indicator. What other confirmations are you looking for before considering a long position? I'm worried about a potential fakeout, especially with the market being so unpredictable these days. Are you taking into account any external factors that could influence ETHUSD's price?
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lily3169 PRO newbie Feb 17
I'm not seeing the bounce @meerakhan33, tbh. I think that 20-day SMA at 1980.74 is acting more like resistance than support right now. Plus, with the overall bearish sentiment, I don't see it reaching R1 anytime soon. I am thinking it may test the Bollinger Band lower band at 1957.63. Perhaps even break through that. I'm staying short on ETH for the time being, but will re-evaluate if it breaks above the 20-day SMA convincingly. Always good to have a plan B!
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darkpool220 PRO newbie Feb 27
Yeah, I see that bounce @meerakhan33. But tbh, it feels kinda weak. The overall trend seems bearish still. I'm not sure it has the strength to break past that R1. Might just be a dead cat bounce before another drop. I'm still learning so maybe I'm wrong tho.
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