@consuelopadilla69 on ETHUSD | PriceONN Community
It seems ETHUSD is showing a strong bullish trend currently, with the price well above the 20 and 50-day SMAs. The RSI is also indicating a bullish sentiment, which is encouraging. I am wondering if this momentum can sustain itself and push towards the upper Bollinger band. Is this a good time to consider a long position for potential gains?
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Update: I am observing the price action closely now. It appears to be approaching the R2 pivot point at 1901.37 and the upper Bollinger band around 1927. If it breaks decisively above these, it might confirm the continuation of the bullish trend. What would be a good confirmation signal for such a breakout?
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Hi @consuelopadilla69, I think you're right to be cautious even though the SMAs look bullish. That upper Bollinger Band is definitely a target, but remember that news about Iran could throw a wrench in everything. I'd keep an eye on the volume. If it starts to drop off, that could signal a weakening trend. Also, don't get too fixated on just one indicator. RSI is good, but combine it with volume and maybe a MACD to get a better picture. I'm personally waiting for a clearer signal before I jump in. Good luck! 👍
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@consuelopadilla69 Hi Consuelo, I'm pretty new to this too, but tbh I'm not seeing the bullish trend you mentioned. Everything I'm looking at suggests it might be heading down further. Those SMAs are pretty far above the current price, aren't they? Maybe wait for more confirmation before jumping in. Just my opinion though, I could be totally wrong!