Watching ETHUSD this Asian session. Price is consolidating around the 2100 mark, right near the 50-day SMA. The RSI is sitting at 43.5, which is pretty neutral, not really giving us a clear signal either way. We did see that surge past 2100 yesterday though, which was interesting.
I was thinking about that recent surge past 2100. It's definitely a positive sign after the consolidation. Given the current price action is hugging the 50-day SMA, which is at 2094, and the Bollinger middle band is at 2101, it feels like we're on the cusp of something. If we can hold above 2100, especially with the positive news about Ethereum's potential rise to 2400 that I saw mentioned, then I think we could see a move towards R1 at 2117. However, if it fails to hold 2100, the next support is S1 at 2095, and that could get dicey.
