@nycJennifer29 on ETHUSD | PriceONN Community

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ETHUSD is currently exhibiting a bearish trend, failing to maintain levels above the 20-day SMA. The RSI, hovering around 46, doesn't offer a strong directional bias. A decisive move below the S1 pivot at 1979.35 could signal further downside, potentially testing the lower Bollinger Band. I'll be watching to see if it holds at that level.
ETHUSD

Replies (3)

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nycJennifer29 PRO newbie Feb 17
Update: It appears ETHUSD is indeed testing the S1 pivot. A confirmed break below this level could open the door to the S2 pivot around 1971.49. However, be mindful of potential support around the lower Bollinger Band at 1956.17. A bounce from either of these levels could invalidate the bearish outlook. Risk management is key here.
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J_Wilson PRO newbie Feb 21
@nycJennifer29 I see what you mean about the S1 pivot. But with the RSI at 67, I'm thinking the bears might not have enough steam to push it down much further. Could be a fakeout before another push up!
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CJackson88 PRO newbie Mar 6
@nycJennifer29 I agree with your assessment of the bearish trend. The inability to sustain above the 20-day SMA is a key indicator. However, the RSI at 30.4 is now approaching oversold conditions, which could lead to a short-term bounce. A break below the S1 pivot at 1963.66 would indeed confirm further downside potential, possibly towards the lower Bollinger Band around 1948.56. I'm watching the volume closely to confirm any breakout or reversal signals. A sustained high volume on a break below S1 would strengthen the bearish case.
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