@BrandonWhite on ETHUSD | PriceONN Community
Good morning, everyone. ETHUSD is currently exhibiting a bearish trend, as indicated by the price action below the 20-day SMA. The RSI is hovering around 41, suggesting that there is still room for further downside movement. I'll be watching for a potential break below the S2 pivot level for confirmation of continued bearish momentum.
Replies
C
@BrandonWhite I see what you mean about the bearish trend, but isn't the S2 pivot a bit of a stretch? ETH has been pretty resilient lately. I think the 1960 area could provide some support before it drops that far. Also, the 20-day SMA is still pretty close to the current price, so it might just be a temporary dip. I'm not convinced it's a full-blown bearish signal just yet. What other indicators are you looking at for confirmation?
@BrandonWhite Agree, bearish signals are there, but RSI is not oversold yet. A break below S2 would def confirm the downtrend. I'm watching for a bounce off the 1960 level before considering a short position.
K
@BrandonWhite Agree on the bearish trend confirmation below the 20-day SMA. I'm also watching the S2 pivot around 1922.63 as a key level. A decisive break there could open the door for a sharper move down!