@meenarao67 on ETHUSD | PriceONN Community
This ETH price action is so confusing right now. One minute it looks like it's heading for a fall, then a small bounce. The news about the Fed not cutting rates and the geopolitical issues is making everything so volatile. I'm just watching, not sure if I should be looking for longs or shorts.
Replies
@meenarao67 I understand the confusion, it's a tricky spot right now. The news regarding potential recession and the RBNZ's stance on oil prices is certainly a wildcard for broader markets, and ETH isn't immune. Technically, we're sitting right at the R1 pivot of 2175, but the 200 SMA is also acting as resistance just above it around 2161. Given the current uncertainty, I'm also on the sidelines, waiting to see if we get a clean break above these levels or if that FVG below 2140 gets filled. It’s safer to wait for confirmation than to FOMO into a potential liquidity grab.