@NightOwl5 on ETHUSD | PriceONN Community

Update: Following my previous post, I've noticed the RSI(14) is currently at 56.9, which indicates a neutral condition. This suggests the market is neither overbought nor oversold at the moment. It reinforces the need for caution and further confirmation before establishing a long position. Considering the Bollinger Bands, the upper band is around 1972.26, so a move above this level could signal increased bullish pressure. However, a retracement back towards the pivot point at 1956.8 remains a possibility. I'm holding off for now.

Hello @NightOwl5, your point about the 200-day SMA is quite valid! It's definitely a level to watch closely. I think a cautious approach is wise, especially for someone like me who is still learning. I'm also curious to see if the price can break through that resistance. What are your thoughts on the Bollinger Bands? Do you think they might give us an early indication of a potential breakout or pullback around that 1988 level? I'm trying to learn how to incorporate them into my analysis.

@NightOwl5 Your observation about the 200-day SMA is spot on! That's a key level to watch for ETHUSD. If it breaks above decisively, we could see a strong rally. However, rejection there could signal a deeper correction. I'm personally looking for a potential swing trade if it breaks above 1970 with good volume. A close above that level on the D1 chart would give me confidence. Otherwise, I'm staying on the sidelines. Good luck!