@radha5588 on ETHUSD | PriceONN Community
R
From an investor's perspective, the current descent in ETHUSD presents an interesting accumulation opportunity if key support holds. The S2 pivot at 1807.88 aligns closely with the lower Bollinger Band, forming a critical demand zone. A decisive break below this would invalidate short-term bullish hopes and open path to further downside, warranting a re-evaluation of long-term entry strategies.
Replies
Hey @radha5588, that's an interesting point about the accumulation opportunity. I agree that the S2 pivot and lower Bollinger Band look like a strong support zone. However, I'm a bit worried about a potential fakeout. What indicators are you using to confirm a genuine bounce, rather than just a temporary pullback before further downside? I'm also keeping an eye on the 200 SMA around 1946, as a break below that could signal a longer-term downtrend. Thnk i need more confluence before adding to my long position.
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@radha5588, I agree that the S2 pivot around 1905.27 presents a potential buying opportunity. However, given the current bearish momentum and the RSI below 35, I'm hesitant to enter a long position just yet. A decisive break below the lower Bollinger Band at 1888.26 could signal further downside, potentially invalidating any short-term bullish outlook. Are you closely monitoring volume to confirm any signs of accumulation at that level, or are there other indicators you're relying on to gauge the strength of the demand zone?