@cokafor288 on ETHUSD | PriceONN Community
Quick question for the more experienced traders here. What are your go-to strategies when the RSI is hovering around 50 like it is right now on ETHUSD? Does that indicate indecision in the market, or is it just noise? Trying to improve my analysis game and any advice would be appreciated. Thanks!
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Update: I did a bit more digging on the RSI and it seems like a reading around 50 can suggest a continuation of the existing trend, but only if confirmed by other indicators. I'm seeing the price is still below the 200 SMA, so maybe a short-term bounce but a longer-term downtrend? Also, the Bollinger Bands are pretty tight, which could mean a breakout is coming. I'm thinking of waiting for a clearer signal before jumping in. Maybe wait for a break above the 200 SMA or a convincing RSI move above 60? What do you guys think?