@yogaSophia on ETHUSD | PriceONN Community
Okay, I'm seeing this massive sell-off on ETHUSD and it's kinda scary. It's dropped so much from where it was just a few hours ago. Is anyone else looking at this and thinking there might be a short-term bounce coming soon, or are we just heading for more pain? Feels like it's oversold according to that RSI thing, but then the news about inflation is just brutal. What are you guys seeing here??
Replies
Hey @yogaSophia, I feel you on the scary sell-off. This ETHUSD move is intense, and seeing it drop from over 2040 to around 2023 feels like a punch to the gut. I'm not sure about a bounce yet, honestly. The price action looks pretty weak right now, and we're below that 200 SMA which is usually a bad sign. I'm starting to worry about my position, might have to cut my losses soon if it keeps going down. It's hard to tell if this is just a liquidity grab or the start of something worse. Definitely keeping an eye on the 2016 support level though, that's crucial.