@OceanWave56 on ETHUSD | PriceONN Community
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Hey everyone, just looking at ETHUSD... RSI is showing as overbought at 76. Price is near the upper Bollinger Band too. What are people's thoughts on a possible pullback soon? Or do you think the bullish trend will just keep going for a while longer? Keen to hear some other opinions tbh.
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Okay, just adding to my earlier post... I was having another look at the charts. The Simple Moving Averages are interesting, as @harryharris mentioned in another thread. The 20-day SMA is defo above the 50 and 200. But like he said, the price is right near that upper Bollinger Band. I'm thinking maybe it could consolidate around the 2100 level before another push higher? Or maybe even dip down towards the 2050 mark. Still pretty new to all this, so any advice is appreciated! Trying to get better at my swing trading.
@OceanWave56, your observation regarding the RSI and Bollinger Bands is valid. While the RSI isn't technically overbought, it's approaching those levels. The price action near the upper Bollinger Band also suggests potential for a pullback. However, it's important to consider the overall bullish trend. Waiting for confirmation of a reversal before entering a short position would be prudent.