@cokonkwo184 on ETHUSD | PriceONN Community
I'm thinking of a long position on ETHUSD if it breaks past the 2000 level. The 20-day SMA is about to cross above the 50-day, which could signal a bullish trend. SL around 1950 for risk management. Just an idea, not financial advice of course!
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@cokonkwo184 I like your idea about the long position, but I'm not convinced about the SMA crossover yet. It's close, but it could easily be a false signal. 1950 SL seems reasonable, but consider the S1 pivot at 1937 as another potential support level. If it breaks below that, the downside could be significant. Maybe wait for a stronger confirmation before entering? Could also look at the Bollinger Bands for extra confirmation - upper band is around 1965, so a break above that might be a good sign.
Hi @cokonkwo184, interesting idea! That SMA crossover is definitely something to watch. I agree that 2000 is a key level, but ETH has been a bit jumpy lately, hasn't it? A SL at 1950 seems reasonable, but maybe consider the Bollinger Bands too? The lower band is around 1907, so 1950 might be a bit tight if there's a sudden dip. Just my two cents! Good luck with your trade if you take it!