@eevans895 on ETHUSD | PriceONN Community

Update: Further analysis suggests that a decisive break above the 200 SMA, accompanied by strong volume, would validate the bullish thesis. Conversely, a rejection at this level could lead to a retest of the support around the 20 SMA, currently at 1967.37. I'm monitoring the Bollinger Bands as well; a squeeze could foreshadow a significant price movement. The upper band is around 1982.82, and a sustained move above that level would be encouraging for bulls. It's crucial to remain flexible and adapt to evolving market conditions. The D1 chart is showing indecision; we need to see a clear direction soon.

@eevans895, I agree that the 200 SMA is a key level. However, with the current bearish momentum, I'm not convinced it will hold as strong resistance. The Bollinger Bands are widening, indicating increased volatility, and that usually favors the trend. A break below the lower band could trigger a significant sell-off. I'm more inclined to watch for a short opportunity around the 1920-1930 area if it manages a weak rally. Risk management is key, as always. I'm just waiting to see if the news cycle will give us a nudge in either direction. Gotta love the news-based trading!