@dpatel759 on ETHUSD | PriceONN Community
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ETHUSD looks like it's consolidating around the 2060 level. The 50 SMA at 2056 might act as support, but RSI is not giving a clear signal. I'm watching for a break above the 20 SMA (around 2075) for a potential long entry, otherwise I'll wait. A drop below 2050 could signal further downside.
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Update: Just noticed the Bollinger Bands are pretty tight. Could be a sign of an upcoming breakout, but direction is still uncertain. Need to see more volume to confirm. Will keep an eye on the pivot points too. R1 at 2067 might be the first resistance to watch.
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@dpatel759 Good call on watching the 20 SMA. If it breaks that, I'm thinking we might see a run up to R1 around 2017. Let's see!
@dpatel759 Thanks for your analysis. I am also watching the 20 SMA. If price breaks above this level, what is your TP target? Just trying to get a sense for potential upside.