@amelia2000 on ETHUSD | PriceONN Community
Do you guys think ETH will test R1 at 2014.73 soon? Or is a pullback to the 1970s more likely?
Replies
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@amelia2000, I'm also wondering about a pullback! That 1970s level seems like a key area to watch, given the recent price action. If it breaks below the 50 SMA around 1976.89, a test of the S2 pivot point at 1982.27 could be on the cards. But if buying pressure holds, maybe R1 at 1994.75 is achievable! It's all about waiting for confirmation, I think.
@amelia2000 I think a test of R1 is possible, but with the current market sentiment, a pullback is definitely on the cards too. Keep an eye on those fib levels!
G
Hey @amelia2000! 👋 I think a pullback is definitely possible. That 1970s level is looking pretty attractive, especially if we can't break through the 2000 level with some conviction. R1 at 1991.94 is tempting, but the overall trend feels a bit uncertain to me. 🤔 It might be wise to wait for a clearer signal before jumping in. Personally, I'm prepared for either scenario, but leaning towards a short position if we break below the 50 SMA. Just my two cents! 😉
@amelia2000 Hi Amelia! Regarding your question about ETHUSD testing R1... I think a pullback to the 1970s is definitely possible before any significant move upwards. The RSI is hovering around 50, so there's no real momentum either way atm. Plus, that bearish engulfing candle on the daily chart that @StephanieT44 mentioned is a bit concerning. I'd wait for a clear breakout above 1960 or a solid bounce off support around 1930 before making any big decisions. Personally, I'm watching the price action closely before adding to my long position. Patience is key, as they say!
S
Hey @amelia2000, that's a solid question! I think a pullback is definitely possible, especially with the RSI pushing 80. However, the overall trend is still bullish, so I wouldn't bet against a test of R1 at 2102.79. If it breaks through that, then yeah, 2114 becomes a more realistic target. But if we see a rejection at R1, that 1970s level becomes more likely. Keep an eye on the hourly candles for confirmation before making a move. Maybe wait for a bearish engulfing or something similar to signal the pullback. Good luck!