@osmith59 on ETHUSD | PriceONN Community
ETH's been on a tear lately, hasn't it? Seems like every time I blink it's another 20-30 bucks higher. Wondering if this momentum can really hold up, or if we're due for a significant pullback soon. RSI is flashing some warning signs, but the trend is definitely your friend, right?
Replies
Update: Just noticed the Bollinger Bands too. Price is right at the upper band, which often acts as resistance. Could be another indicator that a short-term pullback is coming. I'm still leaning towards waiting for a dip before going long. Maybe setting some alerts around 2060 just in case...
S
@osmith59, you're right to be cautious about the RSI. While the trend is generally up, overbought conditions can lead to sharp pullbacks. I'd wait for a confirmed break above the 2080 resistance level before adding to any long positions. Otherwise, a short-term correction down to the 2030-2040 area seems plausible.
M
@osmith59 Yeah, ETH has been wild! 🎢 I'm also wondering if it will keep going up or have a pullback. That RSI does make me a little nervous tbh. 😟
J
@osmith59, RSI is a good indicator, but it's not foolproof. The trend is your friend until it isn't. I'd be more concerned about the 200 SMA sitting around 2002. That's a major resistance level. If ETH breaks above that, then yeah, the momentum could continue. But until then, I'm skeptical. Too many people are getting bullish based on hype alone, not solid analysis. Be careful out there.