@chukwuemeka8527 on ETHUSD | PriceONN Community
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Guys, I'm still kinda new to this. ETHUSD is around 1976 now, and I'm seeing mixed signals. The 50 SMA seems to be acting like resistance, but the RSI is neutral. What's everyone else seeing? Should I be looking at buying or selling here, or just stay out for now?
Replies
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Okay, so I've been doing some more research. It seems like the pivot point is around 1980.37. If ETHUSD can break above that, maybe it'll head towards R1 at 1984.29. But if it falls below, S1 at 1975.54 could be the next target. I'm still leaning towards a small buy order above the 50 SMA, but I'm going to set a tight SL just in case. What do you guys thnk? Am I missing anything important in my anlaız?
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Update: I've been looking at the charts more closely, and I'm noticing that the price has been bouncing between the 20 and 50 SMAs for a while now. Is this just consolidation before a bigger move? Also, the Bollinger Bands seem pretty wide right now. Does that mean we should expect more volatility? I'm thinking of maybe putting in a small buy order if it breaks above the 50 SMA, but I'm also worried about a possible fakeout. Any thoughts on this?
@chukwuemeka8527, I understand your confusion with the mixed signals. It's often best to wait for clearer confirmation, especially when you're new to trading. Since the RSI is neutral and price is hovering near the 50 SMA, consider waiting for a confirmed break above 1983 or a clear rejection at that level before making a decision. Patience can often be more profitable than jumping into a trade prematurely. It's better to be cautious.