@orodriguez748 on ETHUSD | PriceONN Community
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Hi everyone, I'm still pretty new to this, but I'm trying to understand the support and resistance levels for ETH. I see the current price is around 1965, and S1 is at 1949. Does that mean if it drops below 1949 it will likely keep falling? Or is there usually some bounce around those levels? Any insights would be appreciated!
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Update: I'm also wondering about the RSI. It's below 40, which I read is oversold territory. Does that mean a reversal is likely soon, even with the bearish trend?
@orodriguez748, support and resistance levels are not absolute barriers, but rather zones where price may find temporary pauses. Consider the proximity to the pivot point at 1994.14 as well; it could act as an additional area of interest.