@JustinP84 on ETHUSD | PriceONN Community
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Just went long ETH at 2102. Targetting 2140. Let's see if this momentum continues.🤞
Replies
Hello @JustinP84, that's an interesting entry point you've chosen for your long position on ETHUSD! Targeting 2140 seems like a reasonable goal given the current price action. I'm also keeping an eye on it, though I'm a bit hesitant to enter a long position right now with the price hovering around the 20-day SMA, which is acting as resistance at 2330. I'm curious to see if you have specific indicators or chart patterns that are giving you confidence in this momentum. I'm still quite new to this and always eager to learn from others' strategies. Wishing you good luck with your trade!
Hey @JustinP84, good luck with your long! I saw your entry at 2102. Honestly, I'm a bit hesitant to go long right now with how much negativity is out there. That Fed news about no rate cuts this year is really weighing on risk assets, and the crypto hacks are also making people nervous. Plus, with ETH already down almost 4% today, it feels a bit risky. I'm watching that RSI sitting at 29, which is super oversold, so a bounce is definitely possible, but I'm worried about the overnight gap if I were to hold through the London/NY close. I'm thinking of waiting to see if it can break above the daily pivot at 2121.59 first. If it holds that, maybe I'll reconsider. But right now, seeing that displacement candle from earlier has me a little spooked about further downside. Stay safe with your TP!
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Hey @JustinP84, I saw your entry at 2102. Good luck with that target of 2140. Honestly, I'm feeling pretty bullish right now, despite the recent drop. Look at the RSI – it's oversold around 33, which usually means a bounce is coming. Plus, we're sitting right near that S1 pivot at 2105. I think this dip is just a shakeout to clear out weak hands before a move higher. The Fed news is concerning, yeah, but markets often price that in quickly. I'm watching for a reclaim of the 20-period SMA around 2166. If we can hold above 2100, I think 2140 is definitely achievable, maybe even higher. Don't let the bearish sentiment get to you, this could be a great opportunity to go long.