@DanielMoore on ETHUSD | PriceONN Community
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Hey everyone, just wondering what your thoughts are on ETHUSD bouncing off the Bollinger Band support? It seems like it's holding for now, but with the overall bearish trend, I'm a little hesitant to jump in long. Anyone else seeing a potential reversal forming, or is this just a temporary pause before another leg down?
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Daniel, I agree, that Bollinger Band bounce seems weak. I'm seeing more downside pressure than a true reversal forming tbh. Waiting for confirmation before considering any long positions.
That bounce off the lower Bollinger looks more like a dead cat bounce than a reversal, mate. With RSI at 36, I wouldn't bet on it holding much unless we see some serious buying pressure. Better to wait it out