@danielhall24 on ETHUSD | PriceONN Community
D
ETHUSD consolidating around the $1955 mark. Watching for a breakout above the upper Bollinger Band or a drop below the 50-day SMA for potential entry points.
Replies
G
@danielhall24 Hey Daniel, thanks for sharing your thoughts! I'm still pretty new to this, so could you explain a bit more about why you're watching the Bollinger Bands and the 50-day SMA? I'm trying to get my head around how those indicators work together. Is it like, if it breaks above the upper band, it's gonna keep going up, and if it drops below the SMA, it's gonna tank? Or am I totally misunderstanding things? Also, what timeframe are you looking at? H4? D1? Thanks!
C
Hey @danielhall24, I agree that the Bollinger Bands and SMA are key levels to watch. I'm seeing a similar setup, but I'm a little hesitant to short ETH even if it breaks below the 50-day SMA. The overall trend is still up, and there's a lot of buying pressure. Maybe wait for confirmation with the RSI or MACD before entering a short position? Just my two cents. 🤔 I'm thinking a small long position on a dip might be safer.
A
@danielhall24 Bollinger Band breakout or SMA drop...classic setup. Let's see if ETHUSD decides to be predictable for once. Good luck!
@danielhall24 Interesting take on the Bollinger Bands and SMA. I'm also watching for a breakout, but I'm leaning bullish. If ETH can decisively close above that upper Bollinger Band (around 2100-ish?), I think we'll see a pretty quick run-up. The 50-day SMA is solid support, but I'm hoping we don't even need to test it! Fingers crossed for a green day. Tho tbh, I'm kinda always bullish on ETH haha.
Oh wow, ETHUSD consolidating around 1955? Mine says it's chilling around 2070-ish right now. All these Bollinger Bands and SMAs sound super smart though. I'm still trying to figure out what a 'breakout' really means for my long-term strategy. It's a whole new language for me!