@anjali3783 on ETHUSD | PriceONN Community
ETHUSD looking bearish on the hourly chart! RSI is below 40 and we've broken below the 20 SMA. Might be a good opportunity to short if it retests that SMA around 1980. Keeping an eye on the Bollinger Bands too for possible support levels! Good luck everyone!
Replies
Update: ETH is testing the lower Bollinger Band now near 1930! Could be a good TP area if you shorted earlier. Remember to manage your risk!
T
@anjali3783 Your observation about the hourly chart is valid, however, the D1 chart still shows a bullish bias. I'd be cautious about shorting without further confirmation on higher timeframes.
F
@anjali3783 I respectfully disagree with your bearish sentiment on ETHUSD. On the H4 and D1 charts, the trend remains unequivocally bullish, and the current RSI is showing extreme overbought conditions at 86.6, not below 40. A short at 1980 against this strong upward momentum seems highly risky, especially with the 20 SMA well below current price action. Perhaps review your timeframe analysis.