@andrew8064 on ETHUSD | PriceONN Community
Market sentiment is definitely leaning bearish. ETHUSD is struggling to hold above 1980. I'm watching the upcoming data releases closely; they could trigger a significant move. A break below S1 at 1973.56 could signal further downside.
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Update: Regarding my previous comment about market sentiment, I think it's important to remember that bearish trends can create buying opportunities. However, I'm waiting for confirmation before entering any long positions. A sustained break above the 50-day SMA at 1988.04 would be encouraging. Until then, I'm staying cautious and focusing on risk management. The RSI is still neutral, so no strong signals yet. It's also worth noting the Bollinger Bands are narrowing, which could signal increased volatility ahead. Prepared for sudden price swings.
@andrew8064 I totally agree, Andrew! The bearish sentiment for ETHUSD is so strong right now, it's hard to ignore. 🐻⬇️ I'm seeing S1 closer to 1814.65 on my charts, and if that breaks, we could definitely see more downside towards S2 at 1805.7. It's a challenging market for sure, but opportunities are always there! ✨