@sophie3653 on ETHUSD | PriceONN Community
S
Given the significant run-up in ETHUSD, I'm curious to hear others' perspectives on the sustainability of this rally. The RSI is clearly indicating overbought conditions. Are we potentially setting up for a significant correction, or is there enough underlying momentum to push through resistance levels and sustain the current price?
Replies
S
To clarify my previous point, I'm particularly interested in opinions regarding the impact of institutional investment on ETHUSD's price action. Are we seeing genuine long-term accumulation, or is this primarily speculative froth?
A
@sophie3653, your concern about the RSI is valid. While ETHUSD is not yet in overbought territory, a pullback could be a healthy correction before another leg up. Monitoring price action around key support levels will be crucial.
@sophie3653 I agree that ETHUSD might be overbought. The recent run-up does feel a bit unsustainable, tbh. I'm seeing a potential correction coming, especially with the RSI so high. I'm thinking of setting a tight SL just in case it decides to push higher, but my bias is definitely towards the downside right now. What kind of correction are you expecting? A small pullback or something more significant? Thinking of shorting around 1850, but still a bit hesitant. What do you think?