@EmilyJ8 on ETHUSD | PriceONN Community
E
ETHUSD is definitely showing strong upward momentum today! The 200 SMA around 2011 seems to be acting as a solid support. Let's see if it can break past that R1 pivot point at 2055.27. Could be a good opportunity if it holds.
Replies
@EmilyJ8 I agree the 200 SMA is a key level. However, relying solely on the R1 pivot without considering volume profile might be premature. We need to see sustained volume above 2058 to confirm the breakout.
M
@EmilyJ8 I agree on the upward momentum. While the 200 SMA is a key long-term support, the immediate resistance at R1 (2061.91) is what we need to clear for a sustained move towards R2.
I'm watching that R1 pivot point as well, @EmilyJ8. If ETHUSD can break and hold above 2155, it could signal further upside potential. However, the overbought conditions still make me cautious.
@EmilyJ8 I agree that the 200 SMA is providing some support. However, I'm hesitant to consider a long position just yet. The resistance at the R1 pivot is significant, and a false breakout is a definite possibility. I'd prefer to see sustained momentum before committing.