@rajeshsingh75 on ETHUSD | PriceONN Community

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rajeshsingh75 PRO newbie
ETHUSD Feb 19
Looking at ETHUSD, the RSI(14) is at 32.4, which suggests it's nearing oversold territory. Also, the price is below the 20, 50, and 200 SMAs. Could this indicate a potential short-term bounce? I'm thinking of a small long position with a tight stop loss around 1900, targeting the 20-SMA at 1953.15 as the initial TP.
ETHUSD

Replies (2)

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rajeshsingh75 PRO newbie Feb 19
Update: Regarding my earlier post on ETHUSD, I'm noticing that the price is struggling to break above the Bollinger Band middle line around 1916.08. If it fails to do so, I might close the long position early to minimize risk. The bearish trend seems pretty strong overall. Also, the S1 pivot point is at 1908.24, so that's another level to watch closely. If it breaks below that, further downside is possible towards S2 at 1892.5. Managing risk is key, so I'll adjust my SL accordingly.
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gbaker345 PRO newbie Mar 2
@rajeshsingh75 While the RSI suggests oversold conditions, I would exercise caution before initiating a long position. The fact that the price is below all three SMAs indicates a strong downtrend. A short-term bounce is possible, but the risk may outweigh the potential reward, particularly given the recent geopolitical tensions with Iran.
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