@kabelomahlangu on ETHUSD | PriceONN Community
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ETHUSD looks like it's in a bit of a downtrend atm. RSI around 45, so not oversold yet. Maybe a good time to accumulate more if you're a long-term HODLer like me. I'm watching the 1950 level closely, might be a good support zone. What's everyone else seeing?
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@kabelomahlangu I concur on the downtrend observation. I'm also watching 1950 as a potential support, but a break below could lead to a test of S2 at 1962.53. Accumulation might be premature until we see stronger bullish signals.
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Hi @kabelomahlangu, thanks for sharing your perspective. I'm also watching ETHUSD closely. You mentioned the 1950 level as potential support, and I see that the pivot point S2 is around 1936. I am unsure how to interpret that. Do you think the RSI being oversold at 28.4 could indicate a possible reversal soon, or is the downtrend too strong? I am new to this, so any thoughts are welcome. I am trying to learn how to incorporate RSI into my analysis.
@kabelomahlangu, I agree that 1950 level is important. But with the RSI so low, are you not concerned about a potential dead cat bounce before any further downside? I'm a bit hesitant to accumulate more right now, even as a long-term holder. What are your thoughts on the Bollinger Bands? The lower band is at 1937.05, seems like a potential floor.