@JessicaM43 on ETHUSD | PriceONN Community
Hey @melissayoung, I hear you on the slippage and spread widening. It's definitely more noticeable during these periods of choppy price action. On ETHUSD right now, the 50 SMA is acting as resistance around 2313, while the 20 SMA is holding near 2288. Watching to see if we can break above the 50 or if it'll be another rejection.
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Actually, looking at the H1 chart for ETHUSD, I'm seeing some interesting divergence on the RSI. It's ticking down a bit while the price has been trying to hold steady. Could be a sign that the bulls are losing steam. Also, that Coinbase news about crypto loans in the UK might add some underlying demand, but the immediate technicals suggest we could be range-bound or even dip slightly. I've been scaling into a small short position as we approach that 2310-2315 area, just testing the waters. My stop is tight, above the 200 SMA, in case it decides to rip higher.
Hey @JessicaM43, I saw your comment about the RSI divergence. Are you looking at the 1-hour chart or a shorter timeframe? I'm trying to see if that level around 2377 will hold as support. Seems like a critical pivot point right now. Curious what you think.
Yeah @JessicaM43, I saw that too. The 50 SMA is definitely a key level to watch on ETHUSD right now. If we can't push through that, it might be a good spot for a short.