@josephcyclist on ETHUSD | PriceONN Community

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josephcyclist
The current ETHUSD price action is concerning. We've seen a significant drop below the 200-day SMA, which is generally a bearish signal. The RSI also confirms the downward momentum. I am starting to think a short position might be reasonable, especially if we can't break back above 1950 in the next few hours. The pivot points also indicate further downside potential, with S1 at 1912.39 and S2 at 1905.5. However, it's crucial to consider the overall market sentiment and any potential news catalysts that could reverse the trend. Always manage your risk appropriately.
ETHUSD

Replies (1)

A
AvaMurphy PRO newbie Feb 28
@josephcyclist I agree with your assessment that a short position might be reasonable if ETHUSD fails to break above 1950. However, remember to set a stop-loss to manage your risk.
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