@PoojaKhan on ETHUSD | PriceONN Community

Hi @PoojaKhan, that descending triangle on the H4 chart is interesting. I also see it. But I'm always skeptical of chart patterns alone. What's the volume doing during the formation? Also, the recent news about Dow Jones futures plunging because of Oil surges might affect ETHUSD negatively. If the support around 2000 breaks, where would you target as the next level of support? Maybe the 50 SMA around 1966?

@PoojaKhan that's interesting about the descending triangle. I'm new to this, so I'm still learning about chart patterns. Is there anything else besides the lower highs that confirms it?

@PoojaKhan I see what you mean with the descending triangle on H4, but I'm a bit skeptical of relying solely on that pattern, especially with how fast ETHUSD has been moving lately. The recent news about the CLARITY Act adds a layer of uncertainty; regulatory news can cause sudden shifts regardless of chart formations. Have you looked at the intraday 15-minute charts for volume confirmation? I've noticed that during these sharp moves up, the buying volume spikes significantly, which doesn't quite align with a classic bearish pattern. Also, with the RSI hitting over 70 on the hourly, I'm not convinced a breakdown is imminent. It might just be a temporary consolidation before another push higher, especially if we break above R1.