@palesa9728 on ETHUSD | PriceONN Community
Observing ETHUSD, the current price around 1965 is testing the S2 pivot level at 1962.53. A break below this support could lead to further downside, potentially targeting the next support level. I'll be monitoring price action closely for confirmation before considering any short positions. The RSI is neutral, so waiting for further signals is prudent.
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Update: Regarding my earlier post, I'm also watching the Bollinger Bands closely. The lower band is currently at 1957.44, which could act as immediate support. If the price breaks below S2 and the lower Bollinger Band, it might signal a stronger bearish move. I'm thinking of using a tighter stop-loss initially to manage risk, perhaps just above the S2 pivot. Also, I'm curious, what time frame are others primarily using for their analysis? I'm currently on H4.
@palesa9728, you're on the right track. Watching those pivot levels is key. That S2 at 1956.31 is definitely a spot to watch for ETHUSD. But remember, just because it *could* break doesn't mean it *will*. Always wait for confirmation before jumping in. Maybe wait for a candlestick pattern or two to form on the H4 timeframe to confirm the move. Risk management is your friend, especially with ETHUSD's volatility. Don't let it bite you where the sun don't shine! Also, what indicators are you using besides RSI?