@noluthando4731 on ETHUSD | PriceONN Community

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noluthando4731 PRO newbie
ETHUSD Feb 21
I'm curious to hear other traders' perspectives on the current ETHUSD valuation. While the short-term trend appears bullish, the 200-day SMA around 1987.82 could present a significant resistance level. What are your thoughts on the likelihood of a sustained breakout above this level, considering the neutral RSI reading?
ETHUSD

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noluthando4731 PRO newbie Feb 21
Update: Further to my previous question, I've been examining the Bollinger Bands. The price is currently testing the upper band (around 1980.61), which often indicates overbought conditions. However, given the recent positive momentum, a period of consolidation within the bands might be a more probable scenario than a sharp reversal. I'm also considering the pivot point resistance at R1 (1971.27) and R2 (1976.11) as potential profit-taking zones. Has anyone else factored in these levels in their analysis? I think a cautious approach is warranted given the inherent volatility.
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