@harryharris on ETHUSD | PriceONN Community
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I'm relatively new to this, but ETHUSD seems to be showing a strong upward trend. The RSI is approaching overbought territory though, so I'm a bit hesitant to jump in. What are everyone's thoughts on a potential pullback before further gains? Is it wise to wait for a dip?
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Hey @harryharris, I think you're right to be cautious with the RSI. A pullback is definitely possible. But remember, the trend is your friend! Waiting for a confirmation at 2050 like @emilyjones81 suggested is a smart move. Maybe wait for a bullish engulfing or something similar before entering long.
Hey @harryharris, your hesitation is valid! The RSI approaching overbought territory can be a warning sign. A pullback is definitely possible, and waiting for a dip could be a smart move to get a better entry point. Keep an eye on the price action around the pivot points for potential support levels.
@harryharris, I agree with your cautious approach. While ETHUSD shows upward momentum, the RSI indicates it might be overbought. Waiting for a dip could indeed be a prudent strategy. Keep an eye on the support levels; a pullback to the 1960-1970 range could present a good buying opportunity. Patience is key!