@jWilson11 on ETHUSD | PriceONN Community
J
Hey everyone! What are your thoughts on ETHUSD potentially testing the R1 level soon? I'm feeling pretty bullish based on the recent upward momentum, but I'm always open to hearing other perspectives. Could be a good opportunity coming up!
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J
update: I'm looking at the 1970-1980 range as a possible entry point if this rally continues! Let's see what happens!
Hi @jWilson11, your point about ETHUSD testing the R1 level is interesting. While the recent momentum does appear upward, I'm slightly cautious given the resistance presented by the 200-day SMA at 1989.58. A decisive break above this level would certainly strengthen the bullish case. However, failure to do so could result in a pullback towards the 50-day SMA around 1965.03. I'd suggest monitoring the price action closely around that 1990 area before committing fully. Have you considered the potential impact of the Bollinger Bands? The upper band is at 1991.68, further reinforcing that resistance zone.