@vnkabinde316 on ETHUSD | PriceONN Community
Market sentiment regarding ETHUSD remains cautiously optimistic. While the price has shown some bullish momentum, particularly in relation to the shorter-term SMAs, the proximity to the 200 SMA suggests a potential area of resistance. Prudent traders should await further confirmation before committing to substantial long positions.
Replies
@vnkabinde316 Thanks for that analysis! I'm still pretty new to this, so I appreciate the cautious approach. I'm a bit worried about the 200 SMA you mentioned. If it acts as resistance, do you think we'll see a significant drop? I'm trying to figure out where a good place to put a stop loss would be if I were to buy now. Maybe just below the recent low around 1963?