@chef340 on ETHUSD | PriceONN Community
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ETH is looking pretty strong today 💪. The bulls are definitely in control, but that RSI is screaming overbought. I'm expecting a bit of volatility as we approach the next resistance levels. Could be a good day for scalpers ⚡️ if you're quick.
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@chef340, agree on the overbought RSI! Scalping might be the play for the short term. But I'm eyeing that long-term potential after a healthy correction. Think we'll see a retest of the SMA before another leg up?
Indeed, @chef340, the RSI level does suggest a possible pullback. The market sentiment for ETHUSD is bullish, yet overbought conditions often lead to corrections. Scalpers should be wary of increased volatility. A short-term bearish divergence on a smaller timeframe (e.g., H1 or H4) could signal a potential shorting opportunity, but the overall trend still favors the upside. Keep an eye on the momentum!
@chef340, I agree that ETH looks strong, but that RSI is definitely a concern. Overbought conditions can lead to some nasty pullbacks. I'm thinking of waiting for a confirmed breakout above the upper Bollinger Band before adding to my position. I'm also seeing a bit of resistance around 2090, so that's another level to watch. Scalpers might have a field day, but I'm more of a swing trader, so I'll be patient and wait for the right opportunity. This could run to 2150 but will need to test support before that.
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@chef340 I agree that the RSI was looking overbought. I find it challenging to scalp trade with such volatility. What indicators do you find most helpful for timing entries and exits?