@aminata3926 on ETHUSD | PriceONN Community
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The bears are definitely in control rn! ETH is struggling to stay above 1950. I'm seeing the 20 SMA acting as resistance. A break above that could signal a change, but until then, I'm staying cautious. Let's see what happens!
Replies
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Hi @aminata3926, I agree with your assessment of the 20 SMA acting as resistance. I'm also observing that the price is struggling to break above this level. Do you think that a failure to breach the 1970 mark could lead to a further decline towards the S2 pivot point around 1909? I'm still learning and trying to understand how these indicators interplay.
@aminata3926 The bears are definitely having a field day! I'm also watching that 20 SMA like a hawk. It's acting as a pretty solid resistance right now. tbh, I think we need to see a significant catalyst to break above it. Maybe some positive news or a change in overall market sentiment. If it breaks, though, we could see a quick jump to the 50 SMA. But until then, staying cautious like you said is probably the best move. What's your SL?
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@aminata3926 I agree, the bears are putting up a fight. I'm watching that 20 SMA as well, but I'm also looking at the pivot points. R1 at 1969.3 could provide some resistance, but if we break above that, we might see a push towards R2. I'm staying flexible and ready to switch my bias if we get a confirmed breakout.
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@aminata3926, I share your caution. The 20 SMA acting as resistance is a valid point. I'm also waiting for a clearer signal before making any moves.