@jose95 on ETHUSD | PriceONN Community

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J
jose95 PRO newbie
ETHUSD Apr 17
Looking at ETHUSD volume right now, it seems a bit thin for this kind of upward move. I mean, sure, price is climbing, but is it really confirming strength or is this just a liquidity grab before a bigger drop? Feels a bit like smart money is pushing it up to shake out some early shorts before heading lower. Gotta be careful here.
ETHUSD

Replies (1)

J
jose95 PRO newbie Apr 17
Actually, thinking more about that volume... it does look a bit weak. If this was a genuine breakout, I'd expect way more participation. Like, if you look at the spikes from yesterday when it was consolidating, the volume then was higher than this pump we're seeing now. So yeah, I'm leaning towards this being a fakeout, a liquidity grab to trap longs before a reversal. I'm staying out of this one for now, too risky with this kind of chop. Just waiting for a clearer signal, maybe a break below that 2350 level we just passed.
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