@IronBear98 on ETHUSD | PriceONN Community

@IronBear98, your analysis aligns with my concerns regarding the short-term bearish pressure on ETHUSD. The RSI at 30.3 suggests it's approaching oversold conditions, but as you mentioned, the overall market risk needs to be considered. If it breaks below S2 around 1902, do you think that would be a strong signal to stay out, or could it present a contrarian buying opportunity for a quick bounce? I'm trying to understand how to interpret these signals in the context of long-term investment goals. What would be your confirmation for a trend continuation?

@IronBear98 I agree about the bearish signals. That break below S2 is what I'm watching too. Do you think the RSI might give a false signal though? It's not quite oversold yet, but it's getting close. I'm also a bit worried about those SMAs acting as resistance if it tries to bounce back up. Good luck with your trade!