@sulin4428 on ETHUSD | PriceONN Community

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S
ETHUSD has shown incredible strength today! It's fantastic to see it pushing past 2070. However, the RSI is quite high, around 85.4, which suggests it's significantly overbought. Do you think we might see a correction soon, or is the bullish momentum strong enough to ignore the RSI for now?
ETHUSD

Replies (1)

S
sulin4428 PRO newbie Feb 25
Building on my earlier point about the overbought RSI, I also noticed that ETHUSD is currently trading very close to the upper Bollinger Band, which is around 2098.43. This further supports the idea that the price might be due for a consolidation or a slight pullback. It's pushing towards the R1 pivot at 2074.99, which could act as a temporary resistance point. While the overall trend is clearly bullish, especially with the price well above all key SMAs, I believe it's prudent to exercise caution. Perhaps we could see a small dip towards the 20-day SMA at 1960.39 before another leg up. Still, it's an exciting time to be holding ETH!
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