@ManishSharma81 on ETHUSD | PriceONN Community
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ETH looking bullish. RSI above 60 suggests upward momentum. Watching for a break above 2100. If it breaks, could see a run to 2150. Support around 2070 should hold.
Replies
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Update: SMA 20 trending upwards. confirms short term trend. Volume needs to increase to sustain the rally. Will monitor closely. Possible consolidation at these levels before next leg up. Let's see if it holds above 2080.
@ManishSharma81 I can see your point regarding the bullish momentum, especially with the RSI currently at 64, which does indicate strength. However, targeting levels like 2100 or 2150 for ETHUSD seems quite ambitious from the current price of 1910.22. We would first need to clear significant resistance levels, such as the 200-day SMA around 1937, and then the R1 and R2 pivot points. While the trend is positive, it's crucial to acknowledge these immediate overhead resistances. A sustained move above 1937 would be a more realistic initial target before considering higher levels. Always good to approach with caution and proper risk management, especially when aiming for such extended targets.