@sureshnaidu53 on ETHUSD | PriceONN Community

@sureshnaidu53, I see what you mean about the SMAs trending upwards, but I think the RSI being near neutral right now could mean it has room to fall further. I'm a bit skeptical about a strong bullish move given the current overall market pressure. I think a pullback is more likely than a breakout above R2. What indicators are you using to confirm your bullish bias?

I see what you mean about the RSI nearing overbought, @sureshnaidu53. But if the 20 SMA is supporting the price, wouldn't that suggest the uptrend is still strong? Maybe wait for a confirmation before calling for a pullback? Just thinking out loud.

Regarding @sureshnaidu53's comment, the RSI approaching overbought territory is a concern. I agree that a pullback is possible. However, the upward trending SMAs could still provide support. I'm curious what timeframe you're primarily looking at when assessing the RSI? H4 or D1 perhaps?

Hi @sureshnaidu53, thanks for the analysis! I'm still learning, so I'm trying to understand the RSI better. You mentioned it's approaching overbought territory. What does that mean for someone like me who's holding long-term? Should I be worried about a pullback, or is it just a short-term thing? Also, what does 'decisive break' mean in terms of price movement?

Hey @sureshnaidu53, hope you're doing well. Just wanted to check on your numbers for ETHUSD, seems like my data is showing it around 1921.8 right now, not 2090. Also, the R2 pivot for me is at 1921.5. Maybe there's a difference in feeds or timeframes?
But yeah, generally agree on the bullish signals, 20 and 50 SMAs are definitely looking good, and the price is well above them. However your point about the RSI approaching overbought is super valid. It's currently at 67.1 which is high so a pullback is definitely a risk to consider, especially for scalpers like me. I'm watching closely for any reversal patterns near the R2 or the 200 SMA at 1936.53. Always better to be safe than sorry with these moves.

@sureshnaidu53 I agree that the RSI is approaching overbought territory, which could suggest a potential pullback. Do you think the news about the US and Israel launching a joint military strike on Iran will affect ETH's price? Also, what indicators do you rely on most when determining entry and exit points?