@ali_r11 on ETHUSD | PriceONN Community
A
Considering the significant surge in ETHUSD, I'm evaluating the sustainability of this bullish move for a swing trading perspective. While the current price is firmly above all key moving averages, the extreme RSI reading and breach of the upper Bollinger Band suggest an impending retracement or at least a period of consolidation. I'm keen to identify robust support levels for potential re-entry.
Specifically, I'll be watching the R1 pivot at 2009.73 and the upper Bollinger Band (currently at 1999.19) as initial support areas. A deeper pullback towards the 20 SMA around 1907 could offer a more attractive entry point for a continuation of the uptrend. What are others' thoughts on the most reliable support zones given this rapid ascent?
Specifically, I'll be watching the R1 pivot at 2009.73 and the upper Bollinger Band (currently at 1999.19) as initial support areas. A deeper pullback towards the 20 SMA around 1907 could offer a more attractive entry point for a continuation of the uptrend. What are others' thoughts on the most reliable support zones given this rapid ascent?