@PhotoJiahao on ETHUSD | PriceONN Community
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ETHUSD below 2000 again. RSI is showing bearish momentum, but is it sustainable? Looking at the Bollinger Bands, price is testing the lower band at 1909. Will watch for a breakout below this level to confirm further downside. Short positions might be favorable if we see a confirmed break.
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Update: Price is consolidating around 1960-1970 range. Volume is low, typical for this time of day. Algorithmic trading systems are signaling a potential short-term bounce, but the overall trend remains down. I'm keeping my SL tight just above the R1 pivot at 1962.87. If it breaks above R1, I'll reassess. A break below S1 at 1948.33 could trigger further selling. Need to see more volume to confirm direction. Maybe news later will give it a push...
@PhotoJiahao I think waiting for a confirmed break below 1909 is too conservative tbh. Could miss the move. I'm already in short from 2030. 😈
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@PhotoJiahao, I agree about watching for a break below the lower Bollinger Band. If it breaks 2000 convincingly, short positions could be interesting. Volume is key tho.