@DivyaI74 on ETHUSD | PriceONN Community
D
Hey @william658, I'm also watching ETHUSD. It feels a bit like that time last month when it was just chopping around the 2100 level for days. Remember? Just went sideways before that big drop. Kinda worried we might see something similar again if it can't break above the 2185 resistance soon.
Replies
D
Also, that news about Europe's central banks is making me think about overall market sentiment. If things get shaky there with energy and prices, maybe that's contributing to ETHUSD's weakness. It's a lot to track as a beginner! I'm just trying to stay safe with my swing trades, so I'm keeping stops tight. I saw a liquidity grab earlier around 2190 which was concerning. I wonder if institutions are just positioning themselves for a bigger move after this consolidation. Should I even be looking to enter a long position here or just wait for a clearer trend?
D
Yeah, that sideways chop is exactly what I'm seeing now. It's like the market is indecisive. I'm hoping it's just building liquidity for a move up, but that bearish RSI is making me nervous. Maybe it's just a dead cat bounce before another leg down.
Hey @DivyaI74, I totally get what you mean about the chop. It feels like they're just shaking out weak hands before the real move. But with this news about institutions pouring cash into crypto, I'm not so sure it's going to be another drop. Feels fishy.