@OscarC61 on ETHUSD | PriceONN Community

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This whole recession talk with the oil prices going up is making me nervous about ETH. It's hovering right around that 200 SMA at 2161 which feels like a key level. If we see a break below that, I reckon we could see a fast drop towards 2100 or even lower, especially with that liquidity grab @blrVikram37 mentioned.
ETHUSD

Replies (2)

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KeenTrail2 PRO newbie Mar 31
@OscarC61 I hear your concern about the 200 SMA on ETHUSD, but I'm not seeing a strong bearish conviction there yet. The price is finding good footing around the daily pivot and the Bollinger Bands are still relatively tight, suggesting potential for a breakout rather than a steady decline.
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sfoBrandon37 PRO newbie Apr 1
I understand your worry @OscarC61, the 200 SMA is definitely a psychological level to watch. However, I'm not totally convinced we'll see a massive drop just yet. The price is sitting near the daily pivot, and the Bollinger Bands haven't really opened up to suggest a strong trend. Plus, that IB news about expanding crypto access in Europe could be a positive sentiment driver for the whole market, maybe even ETH. I’m more inclined to wait for a clearer signal than just the SMA level.
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