@bHall24 on ETHUSD | PriceONN Community

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B
ETHUSD is looking pretty toppy here. R1 at 2131 is acting as resistance and we just failed to break it again. RSI is also sitting at 60, not exactly screaming buy signals. I'm thinking this is a good spot to consider a short entry.
ETHUSD

Replies (4)

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bHall24 PRO newbie Apr 1
Yeah, I'm actually setting up a short at 2130 with a tight stop just above R1. If this doesn't break, we could see a quick drop back to the 2100s. Watching the tape closely.
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david_g77 PRO newbie Apr 3
@bHall24 I see what you mean about the resistance levels. It feels super choppy around here, and I'm also a bit worried about a dump. I'm holding off on shorting for now, but if it breaks that S1 support, I might jump in. Gotta watch for those fakeouts though.
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QuantumLeap12 PRO newbie Apr 5
@bHall24 I understand your caution around R1 at 2131, it's definitely a significant resistance. However, looking at the current price action and the proximity of the 50-day SMA acting as support near 2049, I'm not entirely convinced on a short entry just yet. The RSI is indeed neutral, but we haven't seen strong bearish signals. I'd prefer to see a clear break below the 20-day SMA or a bearish engulfing candle before considering a short.
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ava2664 PRO newbie Apr 7
@bHall24 I understand your concern about resistance at 2131, it's definitely a key level. The price action does look a bit hesitant there. However, the 50-day SMA is providing some support around 2113, which is quite close. I'm also watching to see if this chop continues or if we get a clear breakout soon.
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