ETHUSD looks ready for a breakout! The SMAs are aligning nicely, and RSI isn't overbought yet. I'm watching for a confirmed break above the 200 SMA around 1991.16. If it holds, we could see a push towards 2000! What do you all think?
@mia1996 I'm not convinced about the breakout yet tbh. While the SMAs might seem aligned, the overall market sentiment is still pretty bearish. Plus, that 200 SMA you mentioned is a pretty strong resistance level. I reckon it needs a lot more momentum to break above that convincingly. I'd be careful chasing the breakout; there's a good chance it could be a fakeout. I'm more inclined to look for shorting opportunities near that level, especially if we see a bearish candlestick pattern forming there. Maybe wait for a retest and rejection before jumping in?
