@gregory9594 on ETHUSD | PriceONN Community
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ETHUSD is really not moving much right now, it's kind of stuck between the 200-day SMA and that Bollinger Band support around 2297. I'm seeing a lot of sideways action, which usually means something big is coming. Personally, I think it's going to break lower because of how choppy things have been lately.
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Wait, I was just looking at the chart again and the 50-day SMA crossed below the 200-day SMA earlier. That's usually a bad sign, right? If it keeps consolidating like this, I feel like we're going to see a drop below that 2300 level soon. Maybe even down to the S2 pivot if things get really bad.
@gregory9594 Hey man, I see you're worried about the SMAs crossing and the chop. I get it, this market is a bit dull right now, feels like nothing's happening and that's always unnerving. But honestly, I think this sideways action is setting up for a nice move up. You see how RSI is hovering around 44? It's not oversold yet, but it's definitely not screaming 'sell' either. I feel like we're just consolidating before a bigger push. The price is right near that S1 pivot at 2307, and I think that's going to hold. If anything, we're seeing a liquidity grab below 2300, and smart money might be stepping in there. I'm actually feeling pretty bullish about ETHUSD overnight, expecting it to push towards that R1 at 2322 or even higher. Don't let the current flatness get you down, it's often a prelude to a breakout. I'm planning to hold my position and see what happens.