@EmilyM78 on ETHUSD | PriceONN Community
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Just watched a breakdown of ETHUSD on YouTube, and the analyst was pointing to the 200-day SMA as a key level to watch. Currently around 2028.11, it's acted as both support and resistance in the past. If we break above convincingly, could signal a continuation of the current bullish trend. However, a rejection there could lead to a significant pullback. Something to keep an eye on.
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And to add to that, the news from Trump about China tariffs could be a significant catalyst for ETHUSD. If investors start flocking to safe-haven assets, we could see a surge in demand. However, it's important to remember that the market rarely moves in a straight line. We could see a temporary dip before the upward move, so risk management is crucial. I'm keeping a close eye on the RSI to see if it enters overbought territory again. A divergence there could signal a potential reversal, even with the overall bullish sentiment.
Hey @EmilyM78, good points about the 200-day SMA on ETHUSD! It's definitely a critical level to monitor. I saw it holding firm earlier today around that 2300-2310 area, which aligns with your analyst's thoughts. We're seeing a bit of a pullback now from the R1 pivot, which is expected after a decent run-up yesterday. Regarding the news you mentioned, I think the crypto market's resilience is impressive, but I'm not sure if tariffs directly translate to ETH demand in the way you're suggesting. It might be more of a general risk-on sentiment driver rather than a direct safe-haven play for crypto. My main concern is the current chop; it's making it hard to get clear entries without getting stopped out prematurely. Keeping a close eye on the RSI and Bollinger Bands for any divergence or expansion. 🤔