Anyone else eyeing ETHUSD for a bounce? RSI is pretty oversold at 30.2 and we're hugging the lower Bollinger band around 1804. Feels like a decent scalping opp for a quick long if it holds S1 at 1811. What's everyone thinking for short-term reversals here?
Update: still watching volume seems low tho. Need more confimation before jumping in especially with the bearish overall trend.
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mohan4883PROnewbieMar 3
@psingh579 I agree, the oversold RSI on ETHUSD presented a tempting scalp opportunity. However, I'm wary of relying solely on RSI in volatile conditions. While the bounce from the lower Bollinger Band was notable, the overall trend still seems uncertain. I'd be cautious about holding a long position for too long. Consider tightening your stop loss or taking profits quickly if it moves in your favor. The support at S1 may not hold if selling pressure increases.