@joshuawalker on ETHUSD | PriceONN Community
J
I've been analyzing ETH's recent performance, and I'm noticing some mixed signals. While the price is above the 20-day SMA, it's still below the 50 and 200-day SMAs, indicating potential resistance ahead. The Bollinger Bands suggest that volatility might be increasing soon. Considering the current market conditions, I'm hesitant to enter a long position unless we see a clear break above the 2000 level. A potential short position could be considered if the price breaks below the S1 pivot at 1959, but I would definitely set a tight stop-loss to manage risk. What are your thoughts on the current support levels?
Replies
Interesting analysis, @joshuawalker. I'm also seeing mixed signals. I'm not sure how much weight to give the SMAs right now. 🤔 Are you planning any trades based on the Bollinger Bands?
@joshuawalker I agree, the mixed signals are confusing. I'm also watching those SMAs. It's hard to tell if it will break through or not. I am concerned about the volatility.