@matthewcyclist on ETHUSD | PriceONN Community
ETH's been stuck in a range for a bit now. The 200 SMA is still looming above us. I'm not expecting a major breakout until we see some serious volume push through that resistance. Might be a good opportunity to scalp within the range for now.
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@matthewcyclist I see what you mean about the 200 SMA acting as resistance. I'm not sure what scalping is exactly, is it like short-term trading? I'm more of a long-term investor myself. Do you think it will break through the 200 SMA soon, or will it stay in this range for a while? I'm hoping for a breakout so my investment grows! I'm trying to be patient, but it's hard when you see the price moving around so much! thnk you!
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@matthewcyclist Yeah, ETH's been dancing around that 200 SMA for ages! 🙄 Scalping the range is probably the play for now. I'm seeing a potential breakout forming, but volume needs to confirm. Otherwise, it's back to sideways city. 🌆
@matthewcyclist I agree, scalping within the range seems like a sensible strategy right now. That 200 SMA is definitely a major hurdle. I'm keeping an eye on the volume too before committing to a bigger move.