@poppy94 on ETHUSD | PriceONN Community
I'm feeling a bit cautious about ETHUSD's immediate direction. While the price did bounce off that 200-day SMA level around 2076, which is a positive sign, the overall trend has been bearish recently. We've seen lower highs and lower lows, and that -3% drop today is concerning. The news about South Korea's stricter checks also adds a layer of uncertainty to the market sentiment. I'm not ready to call a full reversal yet, but I am watching to see if we can break above the 20-day SMA at 2102. If that resistance holds, we might see further downside towards the S2 pivot around 2045. For now, I'm staying on the sidelines, waiting for a clearer signal.
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Yeah @poppy94, the trend is definitely bearish, but that 200 SMA is a solid bounce zone. I'm thinking of going full margin long here, this might be the reversal we've been waiting for. Risky, but that's what makes it fun!