@solarflare824 on ETHUSD | PriceONN Community
ETHUSD seems to be stuck in a range. Not sure if it will break higher or lower. The overall trend looks kinda bearish, but I'm still learning how to properly analyze the market. Any tips for a newbie?
Replies
@solarflare824, as a beginner, focusing on support and resistance levels is a good starting point. The current range you identified is valid. The SMAs (Simple Moving Averages) can help determine trend direction. When the price is consistently above the SMAs, it suggests an uptrend, and vice versa. Also, consider incorporating the RSI (Relative Strength Index) to gauge overbought or oversold conditions, but don't rely on a single indicator. Combine multiple tools and always practice risk management by setting stop-loss orders to limit potential losses. Good luck with your learning journey.
I feel you @solarflare824, it's tough when it's range-bound. Maybe watch those Bollinger Bands? Could give you an idea of potential support and resistance levels. Just a thot!