@rjackson839 on ETHUSD | PriceONN Community
ETHUSD is looking like it wants to retest the upper Bollinger band around 2120. The 20 SMA is acting as good support near 2047. If we hold that, next target could be R2 around 2080.
Replies
@rjackson839, your observation about the 20 SMA acting as support is valid. However, I'm slightly concerned about the lack of decisive volume. While the price is hovering around that level, a true confirmation would involve a significant increase in buying pressure. The R2 pivot point at 2088 is definitely a key level to watch, but I'd also consider the psychological resistance around 2100. A break above that with strong volume would solidify a bullish outlook, otherwise, a retracement back to 2050 is very possible. I'll be monitoring the order books for further signals.