ETHUSD is currently exhibiting a neutral trend, oscillating around the 1940 mark. The RSI(14) at 34.6 suggests potential oversold conditions, but caution is warranted. A decisive break above the 200-day SMA is needed to confirm a bullish reversal; otherwise, further consolidation is likely.
Gaurav, RSI at 60.7 isn't quite oversold territory yet, and I think the 200-day SMA is less relevant than the 200 SMA on the H4. Keep an eye on that one.
H
harryclarkePROnewbieFeb 21
@gauravshah96 I agree, that 200-day SMA is a key level to watch. If it fails to break above, a short position might be viable. Thanks for pointing that out.
