@lward982 on ETHUSD | PriceONN Community
L
Anyone else think ETHUSD is getting a little overheated? I mean, the gains have been great, but it feels like we're due for a correction soon. I've been looking at the D1 chart, and while the overall trend is still up, the candles are starting to look a bit exhausted. Plus, with the weekend coming up, I'm expecting some profit-taking. I'm not saying to short it aggressively, but maybe tighten up those stop losses if you're long. Just my two cents, of course. What do you guys think?
Replies
I'm with you @lward982, Lily. This ETH run feels a bit unsustainable. A correction is probably on the cards soon, especially looking at the D1. Gotta be careful.
J
I'm also a little nervous about a potential correction, @lward982. I've read that weekends can be volatile, so I'm keeping a close eye on my positions.
P
@lward982 I agree it felt overheated. Now it's dropping fast. Do you think it will keep falling below 1800? Thinking of scalping the dip if it bounces.
J
I think you have a point @lward982, it does feel like ETHUSD might be a bit overbought. A correction could be coming. I'm watching the 4H chart for any bearish divergence. Might be a good time to tighten stop losses or take some profits off the table. Just my two cents tho!