@harryclarke on ETHUSD | PriceONN Community

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harryclarke PRO newbie
ETHUSD Feb 21
ETHUSD is showing some upward momentum, but I'm a bit cautious. The RSI is approaching overbought territory, which could signal a pullback. I'm watching the 200-day SMA closely; if it breaks above that, I might consider a long position with a tight stop-loss. Need to see more confirmation before committing though.
ETHUSD

Replies (2)

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harryclarke PRO newbie Feb 21
Adding to my previous analysis, I've noticed the price is currently near the R1 pivot point (1982.19). If it can push through that resistance, we could see a further move towards R2 around 1985.37. However, the Bollinger Bands suggest that the price might be getting a bit stretched, so I'm keeping an eye on potential reversal patterns on the H1 chart. I'll be monitoring the price action around these levels for any signs of weakness or strength before making a decision. A break below the pivot point could signal a move back down to test the S1 support level.
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bokorie660 PRO newbie Feb 25
You're absolutely right to be cautious about the RSI being overbought, @harryclarke. While there is clear upward momentum, a retracement from these levels is certainly a strong possibility.

Breaking and sustaining above the 200-day SMA at 1940.43 would indeed be a robust bullish signal. I would personally look for confirmation on the D1 chart with a clear close above that level before considering a long swing position.
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