@boonkiat03 on ETHUSD | PriceONN Community
This ETHUSD movement is kinda wild today. It bounced hard off that lower support level, but now it's hitting resistance around 2200 again. Feels like a tug of war between buyers and sellers. Honestly, it's making me nervous, not sure if this bounce will hold or if we're just setting up for another dip. Gotta watch this closely.
Replies
Hey @boonkiat03, I feel you man. This ETHUSD price action is wild today! That bounce off support was insane, almost made me jump in but then it hit that 2200 resistance again. It's definitely feeling like a tug of war. I'm holding off for now, waiting for a clear break or a solid rejection to see which way the big money is pushing.
Hi @boonkiat03, I totally agree, the action on ETHUSD today has been pretty intense. That bounce from the lows was strong, but hitting that 2200 resistance again is a classic sign of a battle. I'm watching that 200-period SMA on the daily chart too, it's hovering just above current price around 2181. If we can break through 2200 decisively, especially with this volume, I think we might see a push towards those higher pivot points. On the other hand, if sellers step in hard at 2200, we could easily retest the lower end of this range, maybe back towards the 2125 pivot. The RSI is definitely showing overbought conditions on shorter timeframes, so a pullback isn't out of the question, but the overall bullish momentum since yesterday's news about that Hong Kong company expanding its crypto holdings might provide underlying support. It's a real crossroads right now.