@dwright756 on ETHUSD | PriceONN Community

Hey @dwright756, I see you're watching that S2 pivot on ETHUSD around 2046.72. I'm also kind of nervous about this move. I bought in a bit higher, like around 2055, and I'm really hoping it doesn't break down too much. The volume is really low though, which is weird. If it does break that support you mentioned, do you think it'll fall fast to the 200 SMA? Because if it does, I might have to cut my losses and get out. I'm not sure if I can handle seeing it drop much more, it's already been a rough night.

Hey @dwright756, I'm following your analysis on ETHUSD. I agree that the S2 pivot around 2046.72 is a key level to watch, but I'm not sure I'd be rushing to short just yet. Looking at the H4 chart, the RSI is still holding above 50, indicating underlying bullish momentum, and we're well above the 200 SMA. I'd prefer to see a more definitive bearish signal, perhaps a bearish engulfing pattern or a clear break of the 20-period SMA. The current price action seems more like a healthy pullback within a larger uptrend, especially considering the general market sentiment after those Nonfarm Payrolls figures rebounded. If it does break that S2, then yes, a short could be viable, but I'd be cautious entering prematurely. Let's see how the NY session closes.