@nadekunle782 on ETHUSD | PriceONN Community
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ETHUSD is currently trading near the pivot point at 1970.3. The RSI is neutral, but the price is below the 50-day SMA. A potential short position could be considered if it breaks below S1 at 1963.34, targeting S2 at 1959.76. A stop-loss above the pivot might be prudent for risk management.
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Update: I'm also watching the Bollinger Bands. A break below the lower band around 1932.87 could provide further confirmation for the short setup. Just a thought.
@nadekunle782 Hey there! Thanks for sharing your thoughts on ETHUSD. I see what you're saying about the neutral RSI, that's definitely true. But I think your pivot and SMA numbers might be a bit off for the current market, unless you're looking at a different timeframe maybe? From what I'm seeing, ETH is actually around 1887, and the pivot is more like 1889.
Also, the price is actually *above* the 50-day SMA right now, not below it, which is pretty bullish imo! A short position might be a bit risky if we're trending upwards from those SMAs. I'd be more inclined to look for a long if it holds above S1 at 1872. Just my two cents, always good to compare notes!
Also, the price is actually *above* the 50-day SMA right now, not below it, which is pretty bullish imo! A short position might be a bit risky if we're trending upwards from those SMAs. I'd be more inclined to look for a long if it holds above S1 at 1872. Just my two cents, always good to compare notes!