@lincoln3009 on ETHUSD | PriceONN Community
ETH is looking interesting here. We're hovering around that 200 DMA which is usually a pretty good indicator. RSI is neutral, so not screaming overbought or oversold. I'm watching for a breakout above R1, but keeping a tight SL just in case it's a fakeout. Could be a good swing trade if it confirms.
Replies
@lincoln3009 I agree, that 200 DMA is a key level to watch. A bounce off it could be a good buy signal. But I'm a bit wary of a fakeout too. ETH loves to play those games. What's your SL looking like around R1? I'm thinking of a similar strategy, but maybe waiting for a retest of the breakout before entering. A confirmed breakout with good volume would give me more confidence. Otherwise, it's just gambling, right? Good luck with your trade!