@darkFern3 on ETHUSD | PriceONN Community
Okay, so ETH is below all the SMAs... does that automatically mean it's gonna keep going down? I'm trying to get better at spotting these trends, but sometimes it feels like I'm just guessing. Any advice on how to confirm a downtrend?
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Update: I'm also looking at the Bollinger Bands on ETH, and it seems like we're kinda near the lower band around 1911. Could that act as support, or is the downward pressure too strong? I'm thinking maybe a small long position with a tight SL just in case things go south...
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@darkFern3 Don't rely solely on SMAs to confirm a downtrend. Look at price action, higher timeframes, and other indicators like MACD or RSI divergence. A break below recent swing lows with increasing volume can provide better confirmation. Also, consider the fundamental picture; any negative news could accelerate the move down.
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@darkFern3 I was just looking at that too! It's confusing, isn't it? My chart shows it trying to climb a bit now but those bigger SMAs are still above like big mountains. I always wonder if it's a trick, like when you think traffic is clearing then BAM, another standstill. How do we know for sure it's not just playing games with us?