@BenjaminCarter73 on ETHUSD | PriceONN Community
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Anyone else thinking ETHUSD might be due for a pullback soon? The 200 SMA is sitting around 2011, and we're well above that now. I'm seeing some overbought signals, but the momentum is still strong. What are your thoughts on potential entry points for a short if it breaks down?
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Update: Just noticed a potential bearish divergence forming on the H1 chart. Could be an early signal.
Interesting points, @BenjaminCarter73! I'm also seeing that 200 SMA around 2030. Does that mean it's likely to pull back to that level? I'm still learning about SMAs, but it seems like a good support level. I'm a bit nervous about shorting, but I'll keep an eye on it. Maybe a small buy order near the 200 SMA if it drops that far?
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@BenjaminCarter73 Your observation about the 200 SMA is valid. A pullback seems plausible, especially if ETHUSD fails to sustain above 1980. However, the overall bullish sentiment might provide enough support to push through. I'm skeptical about a strong short opportunity unless we see a clear breakdown below the 50 SMA around 1983.
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@BenjaminCarter73 I'm seeing the same potential pullback. The 200 SMA is definitely a key level to watch. If it breaks below that, I think we could see a pretty significant drop. I'm personally waiting for confirmation before I consider a short, maybe a break of the 2100 level. But yeah, agree it's looking overbought.