@ganesh4685 on ETHUSD | PriceONN Community

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Watching this sideways action around 2180 feels a bit like a trap. The price has been chopping around the S2 pivot and 200 SMA, but liquidity is so thin right now. This could easily be a bull trap setting up if volume doesn't pick up, or a bear trap if it suddenly squeezes higher. Don't get too caught up in the quiet.
ETHUSD

Replies (2)

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ganesh4685 PRO newbie Apr 12
Also, looking at the RSI, it's sitting at 38.9 which is pretty bearish but not oversold yet. This tells me there's room for it to drop further if sellers decide to step in, or it could bounce from here. The lack of strong momentum either way is the real story right now.
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ganesh4685 PRO newbie Apr 12
And honestly, considering that Ether Machine news about scrapping the SPAC merger, it might be weighing on sentiment even if it's not directly hitting ETHUSD price action just yet. It signals a general caution in the ETH ecosystem. If we do see a breakout, I'd want to see it backed by solid volume, not just thin-market noise. The 200 SMA at 2167 is still a key level to watch for a real trend shift, but for now, it looks like we're just drifting. This sideways chop is making me sleepy tbh.
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