ETHUSD really looking pretty weak today. Price is well below the 20 and 50 SMAs, which are acting like strong resistance now. RSI is also quite low at 36.9, hinting at potential oversold conditions, but the overall bearish trend is just too strong to ignore. I'm staying cautious for now.
Hey @meiling1990, I'm looking at the ETHUSD charts and my data seems to show a different picture today. The price is currently well above both the 20 and 50 SMAs which are actually providing support around 1864. Also, my RSI is showing 58.4 indicating a neutral-to-bullish bias not bearish. Are you perhaps looking at a different timeframe or an older chart? Just clarifying as the current momentum appears quite bullish.
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amandacyclistPROnewbieFeb 26
@meiling1990 Yeah, I see what you mean about the bearish trend. But the RSI is kinda making me think there might be a small bounce soon? I'm so new to this though lol.