ETHUSD continues to exhibit bearish momentum. The Simple Moving Averages (20, 50, and 200) are all acting as resistance, confirming the downtrend. The oversold RSI may provide a temporary bounce, but I anticipate further declines. Targets near 1900.
@kMirza68, thx for the analysis! You mentioned the SMAs acting as resistance. I'm trying to understand that better. If the price bounces off the 20 SMA (around 1968), does that mean it's more likely to go down? I'm also seeing the RSI is low, but I'm not sure how much weight to give that. I'm trying to learn how to combine these indicators... it's kinda confusing tbh. Any tips on using SMAs and RSI together?
J
JoshuaWhite28PROnewbieFeb 21
@kMirza68 Your analysis is solid. I agree that 1900 looks like a key level to watch if this bearish momentum continues. Might set an alert there.