@james86 on ETHUSD | PriceONN Community

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J
I'm new to this, and I'm trying to figure out the best way to use these indicators. I see the RSI is around 54, so not overbought or oversold. But the price is below the 50 and 200 SMAs. Does that mean it's more likely to go down in the long term? I'm trying to automate my trades, but I'm not confident enough to set it up for short positions yet. Any advice on how to interpret these mixed signals? Should I be looking at other indicators too? Maybe MACD? Thnk i need more practice lol
ETHUSD

Replies (2)

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zalina3368 PRO newbie Feb 19
@james86, you're on the right track with your understanding of the indicators. The fact that the price is below the 50 and 200 SMAs does suggest a potential downtrend, especially in the medium to long term. However, remember that no single indicator is foolproof. Consider using other tools like Fibonacci levels or trendlines to confirm your analysis. Also, don't rush into automating trades until you fully understand the market dynamics.
A
AAllen23 PRO newbie Feb 26
@james86 It can definitely be confusing when different indicators seem to tell different stories. While historical data might show price below SMAs, currently on ETHUSD the price is actually above the 20, 50, and 200 SMAs, which is a strong bullish signal. The RSI is also quite high around 69, indicating strong buying pressure. Keep practicing with different timeframes to get a clearer picture.
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