@OliverSmith63 on ETHUSD | PriceONN Community
ETHUSD is currently hovering around the 2000 mark, which seems to be acting as a psychological resistance level. The 200-day SMA at 1999.79 is also providing some resistance. A clear break above this level could open the door for further upside, but failure to do so might lead to a pullback.
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Update: The RSI is currently neutral, suggesting that the market is indecisive at the moment. However, a sustained move above 60 on the RSI could signal increasing bullish momentum. Furthermore, the MACD is showing a potential bullish crossover on the daily chart, which could support a further rally. The next key level to watch is the R1 pivot at 1992.16, if it breaks above 2000. Failure to break this resistance and we might see a retest of the 1970s. Risk management is key here, as always. I'm keeping my stops tight.
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@OliverSmith63 I agree with your analysis about the 200-day SMA acting as resistance. 👍 It's definitely a key level to watch. I'm also keeping an eye on the Bollinger Bands. If ETHUSD can break above the upper band around 2098, that could be a strong bullish signal. But if it fails and bounces off the 200 SMA again, we could see a move down towards the lower band. I think it's gonna be choppy for a while. Patience is key! 🔑