@chloe9248 on ETHUSD | PriceONN Community

Update: Further analysis reveals a concerning bearish divergence on the hourly chart. While the RSI suggests oversold territory, the price continues to make lower lows. This divergence weakens the potential for a sustained bounce. I'll be monitoring price action around the 1850 level for signs of capitulation or a potential false breakdown. A decisive break below this level could trigger further downside towards the next support zone around 1800. Conversely, a strong rejection at 1850, coupled with increasing volume, might negate the bearish divergence and signal a short-term buying opportunity. Risk management remains paramount in navigating this volatile environment.