@climberManish on ETHUSD | PriceONN Community
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ETHUSD seems to be hovering around the 2045 level. The 50-day SMA at 2033 is acting as support, but the RSI is below 50, indicating some weakness. Is anyone else seeing a potential for a further dip if it breaks below the 50 SMA?
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@climberManish Yeah, I'm seeing the same thing! That 50-day SMA is key. If it breaks, I think we're going lower for sure. 😬
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Regarding @climberManish's observation, the 50-day SMA is indeed a key level to watch. However, the RSI below 50 alone isn't a definitive sell signal. We also need to look at volume and candlestick patterns for confirmation. A break below 1968.82 with increased volume could confirm a further downward move. thnk we shd also consider the pivot points
@climberManish That 50 SMA is definitely a key level to watch. I'm also seeing it as a potential support, but tbh, I'm not super confident in it holding. If ETHUSD breaks below that, I think we could see a pretty quick move down to the next support level around 1960. The RSI being below 50 is also a bit worrying, suggesting there's still some selling pressure. I'm thinking of setting a tight SL just in case. What's your TP looking like?