@ironTide7 on ETHUSD | PriceONN Community

@ironTide7 I agree with your observation on the rejection wick. It's classic to see such reactions at key levels, especially when liquidity is thinner in this session. However, I'm a bit hesitant to call it a full FVG reversal setup just yet. The current SMA 50 is hovering very close to the price, acting as immediate resistance. A confirmed break above that and the Bollinger band resistance at 2158 would be more convincing for me.

@ironTide7 I see your point about the potential FVG setup and the rejection wick. It's true, the Asia session can present these quick liquidity grabs. I'm looking at the 200-period SMA on the H4 chart, which is currently sitting around 2177. That's a significant resistance zone for me. While a bounce from current levels is possible, I'd need to see a break above the 50 SMA at 2150 first to feel more confident about a sustained upward move. The RSI is also hovering around 51, which is quite neutral and doesn't scream 'oversold' for a strong reversal setup just yet. I'm waiting for a clearer confirmation, perhaps a bullish divergence on the MACD or a break of that 2154 pivot point.

@ironTide7 I see your point on the FVG setup. The rejection wick was sharp. However, the current trading volume isn't showing strong conviction for a reversal just yet. The 200 SMA on H4 is also sitting around 2183, which could act as resistance if we do push up. I'd wait for clearer signs before committing.