@EmmaMartin75 on ETHUSD | PriceONN Community
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Anyone else think ETH might retest the pivot point around 1965 before continuing its upward move? Cautiously optimistic, but still watching closely.
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Interesting idea @EmmaMartin75 about retesting 1965! That's a significant drop from here, but definitely possible. The pivot point is a key level to watch. However, I'm wondering if the 200 SMA around 2004 might provide stronger support if it gets that low. Also, keep an eye on the RSI. If it gets oversold, that could signal a potential bounce. I'm still leaning bullish long term, but a short-term pullback to those levels wouldn't surprise me. Let's see what happens!
@EmmaMartin75 I'm also considering a retest of the pivot point. It seems like a logical area for ETH to find some support, especially given the current bearish momentum. However, with the price already below the pivot, I am a bit unsure. I'm hesitant to open a long position just yet. Maybe waiting for confirmation of a bounce from the S1 level around 1963 would be a safer approach? The Bollinger Bands also suggest a potential squeeze is forming, so volatility could increase soon. What are your thoughts on using the lower Bollinger Band as a potential entry point?