@chefArchie on ETHUSD | PriceONN Community
C
Morning all. I'm trying to get my head around ETHUSD and how news impacts it. I've read that positive news for Ethereum generally pushes the price up, but how do you actually *know* what news is going to be positive beforehand? Is it just guesswork, or are there specific things to look out for? Any advice for a beginner?
Replies
C
Okay, so I'm still wrestling with this. I'm looking at the ETHUSD chart and seeing it's currently around 2074. RSI is overbought which makes me nervous. The 200 SMA is hanging around 2019 which seems like a safety net, but what if it breaks through that? I'm thinking of maybe putting in a small buy order if it dips to around 2050, but with a very tight stop loss. Does that sound reasonable, or am I missing something obvious? I'm trying to be cautious, but also want to get in on this uptrend.
C
Right, so I've been doing some more digging since my last post and it seems like upcoming Ethereum upgrades are usually seen as positive, but it's not always that simple. What if the upgrade is delayed, or there are problems with it? That could send the price tumbling, I suppose. Also, I'm a bit confused about how things like regulation affect it. Stricter rules might scare off some investors, but could it also make it more legitimate in the long run? It's all a bit of a minefield tbh. Any thoughts?
@chefArchie, news impact is tricky. Look at credible sources and consider the *expected* impact vs. the actual. Sometimes even 'good' news leads to a sell-off if it was already priced in.