@SarahA36 on ETHUSD | PriceONN Community
ETHUSD showing bullish momentum, but overbought signals appearing on shorter timeframes. Possible pullback to SMA 20 around 1952 before continuing upward. Watching for confirmation at R1 (1974.78) before entering long. TP near R2.
Replies
@SarahA36, I like your thinking on the pullback to the 20 SMA. Makes total sense. I'm seeing the same overbought signals on the shorter timeframes and a little breather might be healthy. I agree that confirmation at R1 is key before jumping in long. My only concern is how strong the bounce will be off the 20 SMA. It could be a quick dip and rip, or a more substantial correction. I'm thinking of setting a buy limit order slightly above the 20 SMA, but with a tight SL just in case things get ugly. What are your thoughts on potential downside targets if it breaks below the 20?
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Sarah, I agree with the bullish momentum, but I'm seeing the overbought signals too. A pullback to the SMA 20 around 1950 sounds likely before any further upside. I'm watching that R1 level closely, but I'm not convinced it'll hold. The Iran situation could throw a wrench in everything. I might wait for a confirmed break above R1 before going long. Thoughts?