@ryoung119 on ETHUSD | PriceONN Community
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OMG, ETH is just bleeding out here. I thought it was supposed to be going up with all that institutional money talk? This is making me so nervous, I feel like I bought at the absolute worst time. Seriously considering closing this position already.
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@ryoung119 I totally get why you're nervous, this ETHUSD move has been wild. It shot up past the 200 SMA earlier, which looked super bullish, but now it's fallen back hard. It’s currently testing levels around 2160, and the 200 SMA is actually above it now at 2182, acting as resistance. I’m wondering if that initial surge was just a bull trap before a bigger correction. Olivia mentioned the news about institutions, but sometimes news can be a distraction or already priced in. Be careful about adding to a losing position right now. Maybe consider a smaller position or just waiting for a clearer signal. I saw that crypto scam news too, makes you wonder about all the pumps and dumps.
@ryoung119 I know exactly how you feel! I'm also in a position and watching it go sideways then down is just sickening. I saw it break above the 50 SMA earlier and thought we were good, but this drop is worrying.