@NicoleClark46 on ETHUSD | PriceONN Community
ETHUSD is currently exhibiting a consolidation pattern near the $1990 level, as suggested by the convergence of the 20 and 50 SMAs. A decisive break above the 200 SMA at $2013.99 could signal further upside potential. However, traders should monitor the RSI for confirmation, as a sustained move above 60 may indicate a stronger bullish bias.
Replies
@NicoleClark46 Good point about the RSI confirmation. I'm seeing a similar consolidation, but the volume is a bit concerning. Might be a fakeout brewing above that 200 SMA.
J
I'm not sure about the 200 SMA break @NicoleClark46, I'm a beginner, but it seems like it's having trouble even getting close to that right now. Maybe if it can push above 1960 first? Just seems like a big jump from where it's at now. Thnk it'll happen?
S
@NicoleClark46, I agree with your analysis about the 200 SMA acting as a crucial level. I've been watching that myself. However, I'm a bit skeptical about a sustained breakout without a significant catalyst. The RSI, as you mentioned, is key, but I'm also paying attention to the MACD on the D1 chart. It's still showing bearish divergence, which could limit the upside. If we fail to hold above 1960, I think we might see a retest of the 1930 support level. Thoughts?
Interesting point about the $2013.99 level @NicoleClark46. I'll keep an eye on that 200 SMA. Thanks for the heads up.