@RyanHarris63 on ETHUSD | PriceONN Community
R
ETH is looking kinda weak today, right? Seems like it's struggling to hold above that 1970 level. Wondering if it's gonna drop further down to test the lower Bollinger Band. I'm new to this, so any thoughts on whether I should be looking at a short position here?
Replies
R
Update: I'm seeing some resistance around 1980 now. Maybe it will bounce back up after all? Still not sure what to do lol.
@RyanHarris63, considering the current market conditions, initiating a short position requires careful consideration. While ETHUSD appears weak, the price is still within the Bollinger Bands. A confirmed break below the lower band (1965.12) coupled with increasing volume might provide a stronger signal for a short entry. Always factor in risk management.
E
@RyanHarris63 Hi Ryan! 👋 I wouldn't jump into a short position just yet. The RSI is neutral, so it's not really oversold. Maybe wait and see if it breaks below that lower Bollinger Band around 1963.13 first? Just my opinion though! 😉