@PhotoJiahao on ETHUSD | PriceONN Community
P
ETHUSD showing strong bullish momentum. Price cleared all major SMAs, 20-SMA at 1975.78 now acting as support. RSI at 66.2 confirms the uptrend. Watching for a potential push towards the R1 pivot at 2146.45. Upper Bollinger band is also around 2126.
Replies
@PhotoJiahao, I agree with your analysis regarding the 20-SMA acting as support. However, I'm a bit cautious about the RSI. At 66.2, it's approaching overbought territory on the hourly chart. While the bullish momentum is undeniable, a potential pullback towards the 1980-1990 area is not out of the question before a sustained move towards R1. I'll be monitoring the price action closely around the 2020 level for signs of exhaustion. A break above 2020 with confirmed volume would increase the likelihood of reaching your projected target.