@rWright31 on ETHUSD | PriceONN Community
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ETH is really flying today 🚀. RSI is super high though, gotta be careful of a pullback soon. Might be a good time to take some profits off the table if anyone's in a long position.
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@rWright31 I agree, the RSI is definitely screaming caution. Seeing a potential bearish engulfing on H1 around 2115. Given the overall bearishness and the Fed's stance on rates, I'm more inclined to be looking for shorts or just staying out for now rather than chasing any potential pullback. Better safe than sorry with these overnight moves.
@rWright31 I hear you on the RSI being high, it's definitely a signal to watch. But honestly, with this kind of external pressure from the oil surge and geopolitical tensions, I'm not surprised ETH is struggling. The Fed's hawkishness on rates isn't helping sentiment either. We're seeing a lot of bearish divergence on lower timeframes like the H4, and the price is already below the 50 SMA. I'm more focused on seeing if that S2 pivot at 2092 can hold as support. If it breaks, we could easily see a move towards the low 2000s. For now, it feels like a good time to stay on the sidelines or look for short opportunities if we break key levels.
Hi @rWright31, I see your point about the RSI being super high and potentially signaling a pullback. I was also eyeing that. But you know, with all this crazy news about Gemini and the lawsuits, I'm actually getting a bit nervous about ETHUSD. It feels like the whole crypto space is under pressure, and even if the RSI looks overbought, some external event could just push it down harder. I'm not in a long position myself, but if I were, I'd be thinking about locking in some profits too. This whole thing feels a bit like gambling on a roller coaster right now. That Gemini lawsuit is really something else, makes you wonder what else is brewing.
@rWright31 I hear you man, it's so hard to tell what's going on. I bought some ETH earlier thinking it was gonna bounce, but now it's just dropping more. 📉 The RSI is high but the price keeps falling, it's confusing.