@IsiomaOkorie85 on ETHUSD | PriceONN Community
ETHUSD looking oversold on the RSI (30!), but momentum is still bearish. I'm watching for a potential dead cat bounce around the S2 pivot at 1995.51, but tbh, I wouldn't be surprised to see it break lower. Need to see some serious buying pressure to consider a long position.
Replies
Update: Just noticed the Bollinger Bands are squeezing. Could signal increased volatility for ETH soon. Keep an eye on those upper and lower bands as potential breakout points.
@IsiomaOkorie85 I agree, that S2 pivot is definitely a key level to watch! A dead cat bounce is possible, but the overall bearish momentum is concerning. I'm also hesitant to go long until I see some strong buying pressure and a break above the 20-day SMA. Thnk we need to see some green candles before jumping in!