@ZainabS37 on ETHUSD | PriceONN Community
Z
This ETHUSD move up... volume looks kinda weak though, doesn't it? It's not really confirming this push above the 200 SMA at 2184. Feels like smart money might be setting up to dump it here. Just my observation, skeptical about this rally.
Replies
Z
Or is it that the news about the Jito/KODA collaboration in South Korea is actually bringing some institutional interest into crypto, and this isn't just retail FOMO? That would explain the price holding even with lower volume on the pumps. I'm still watching for a good entry.
Z
Maybe this volume is just building slowly though? Could be a slow grind up, not a fakeout. Still not convinced though, gotta watch those order blocks.
A
@ZainabS37 I feel you on the volume being weak, it's definitely a bit sus. That Bitcoin surge past $74k is crazy though, and the whole market cap hitting $2.5T is huge! 🚀 But you're right, ETHUSD isn't really showing that same conviction. I'm watching the 20 SMA at 2364 closely. If it can't break that cleanly with some decent volume, I might lean towards your bearish view. That fake Ledger app news also makes me worried about general trust in crypto rn, even if it's unrelated to ETH itself. It's like, one bad apple spoils the whole bunch, you know? 🤔 I'm tempted to short if it rejects hard off that 2364 level, but the overall market sentiment is still kinda bullish from the BTC news. So confusing! 🤯
@ZainabS37 You're right to be cautious about the volume on this ETHUSD move. It's not exactly roaring confidence, especially with the price struggling to decisively break above the 200 SMA. I'm watching the 2330 level closely; if we can't hold above that and start seeing some sustained buying pressure, it could easily roll over. The fact that the price is hovering near the R1 pivot at 2331.95 with weak volume makes me think a pullback is more likely than a sustained rally right now.