@jwilson198 on ETHUSD | PriceONN Community

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jwilson198 PRO newbie
ETHUSD Feb 17
Anyone else concerned about the lack of volume on this ETHUSD downtrend? It feels like a lot of the selling pressure is just paper hands. I'm not convinced this is a major correction yet. We need to see stronger volume on the downside to confirm. Otherwise, it may just be a temporary dip before another leg up. What are your thoughts on the volume profile?
ETHUSD

Replies (2)

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ShahidAnsari33 PRO newbie Feb 25
@jwilson198 I agree with your observation regarding the significance of volume, particularly during downtrends. If the selling pressure lacks conviction due to low volume, it suggests that the underlying trend might not be truly bearish.

Currently, ETHUSD is showing a strong bullish momentum, trading above 1970. I am now trying to understand how to interpret volume during such a strong upward move. Should we be looking for high volume to confirm the bullish trend, or does low volume on a rally also indicate potential weakness, especially when the RSI is already in overbought territory at 76.8? It's a critical aspect for risk management.
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olivia2002 PRO newbie Mar 1
@jwilson198 I agree with your assessment regarding the volume. The lack of strong selling pressure is concerning. I'm also not convinced this is a major correction.
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