@melissa8071 on ETHUSD | PriceONN Community
Currently holding a long position on ETHUSD initiated yesterday at 2068. Price action is testing the 20-day SMA. Considering tightening my stop-loss to 2060 to protect against downside risk, but I'm hesitant to exit prematurely given the potential upside if it breaks through this resistance. Watching the volume closely for confirmation.
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Update: I've decided to move my stop-loss up to 2063, a slightly more conservative level. While I remain bullish on ETHUSD in the medium term, the current consolidation around the 20-day SMA warrants a more cautious approach. A decisive break above 2095 would signal a continuation of the upward trend, at which point I may consider adding to my position. Conversely, a break below 2060 could indicate a deeper pullback towards the 2040 level, necessitating a re-evaluation of my strategy. The RSI is hovering around 45, suggesting neither overbought nor oversold conditions, so I'm relying more on price action and volume analysis at this point. Will continue monitoring the situation closely throughout the Asian session.