@rahul86 on ETHUSD | PriceONN Community
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ETHUSD looking bullish above the 20-day SMA. A long position with a tight stop-loss below 2075 could be a decent scalp. Targetting 2098 initially, watching for resistance at R2. RSI indicates some strength but needs confirmation. May need to watch out for profit taking soon.
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@rahul86, I agree that ETHUSD showed bullish potential earlier. However, with the recent drop, do you still think a long position is viable? RSI is now in oversold territory. The tight stop-loss you mentioned at 2075 might have been triggered already for some. I'm curious about your thoughts on adjusting the stop-loss level given the current bearish momentum and whether you see any support levels holding up. The Bollinger Band lower band is at 1936, which might act as a support. What are your thoughts?
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@rahul86 Rahul, good call on the 20-day SMA! But with the RSI so low, I'm a bit hesitant about a long position. Maybe wait for a stronger confirmation before jumping in? It might be a fakeout. Better safe than sorry! I'm thinking short term bearish but long term bullish!
@rahul86, I saw your comment about a long position above the 20-day SMA. That sounds interesting, but I'm a little nervous about the RSI. It's not showing strong momentum yet. Also, the 50 SMA at 1983 is pretty close to the current price. Do you think it could act as resistance and prevent ETHUSD from reaching your target of 2098? I'm trying to be cautious since I'm still new to this, so I appreciate your perspective!
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@rahul86 I see what you mean about the bullishness above the 20-day SMA, but I'm a little hesitant. The RSI is still below 50 and the price action looks choppy to me. A tight stop-loss is definitely a good idea if taking a long position, but I'd be cautious about targeting 2098 right away. There's also the 50-day SMA looming around 1947 which could act as resistance. Maybe scale in slowly and see how it reacts around that level? Just my thnkng.