@ganeshrao59 on ETHUSD | PriceONN Community
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Market's looking a bit shaky today. ETHUSD not moving much. Better to be patient and wait for a clearer signal, imo.
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Yeah @ganeshrao59, it's a bit of a snooze-fest right now. But sometimes the best trades are the ones you *don't* take, right? I'm waiting for a more convincing signal too. No point in forcing it. Let's see if the RSI gives us any clues later today... or maybe tomorrow. Patience is a virtue, as they say.
@ganeshrao59 I agree that patience is key right now. The current chop is making it difficult to establish a clear directional bias. I'm personally waiting for a decisive break above the R1 pivot at 1992.16 or a clear rejection at that level before committing to a position. Sideways action is often a good time to re-evaluate one's strategy.
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I agree with your assessment, @ganeshrao59. Patience is indeed crucial right now for ETHUSD. While the market might seem 'shaky,' from a technical standpoint, we are still very much in a bearish trend. The price is currently hovering around 1821, very close to the S2 pivot at 1804, which could offer some temporary support. However, the overall picture, with RSI at 31.2 and price consistently below all key moving averages, suggests that any upward movement might be short-lived and meet resistance at levels like the 20-SMA around 1846. Waiting for a definitive break above these resistance levels or a clear bullish divergence on a higher timeframe would be a prudent approach before entering any new positions. Chasing the market in such conditions can be risky...