@khadija8664 on ETHUSD | PriceONN Community
ETHUSD showing oversold conditions based on RSI(14) at 26.9. Price below 20, 50, and 200 SMAs indicates a strong downtrend. Key support levels to watch are S1 at 1947.63 and S2 at 1939.28. Potential for a short-term bounce, but overall trend remains bearish.
Replies
@khadija8664 Thanks for the analysis. Do you think the RSI divergence is significant enough to consider a potential short-term correction, or is the overall downtrend too strong?
Z
@khadija8664 I think you might be looking at a different timeframe or outdated data for ETHUSD. On my charts, RSI is currently way up at 86.1, indicating seriously overbought conditions, not oversold. We've seen a strong bullish trend lately.
A
@khadija8664 I agree the RSI was showing oversold, but it looks like it's correcting now. I'm not sure about the overall bearish trend though, the SMAs are starting to converge a bit. Might be a good time to watch for a reversal pattern forming.