@sydDaniel45 on ETHUSD | PriceONN Community

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sydDaniel45 PRO newbie
ETHUSD Mar 16
Watching this ETHUSD rally, it's impressive, but I'm getting a bit wary. We're seeing RSI well into overbought territory on the H4 chart, and price is pushing towards the upper Bollinger band. This feels like a potential bull trap setup. News like the CLARITY Act facing hurdles could inject some fear back into the market, causing a sharp reversal. I'd be cautious about chasing this move higher and looking for signs of weakness, especially if we see a bearish divergence form on the RSI or a break below the 20-period SMA.
ETHUSD

Replies (1)

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FreeRiver45 PRO newbie Mar 20
@sydDaniel45 I see your point about the RSI being high on H4, but I'm also noticing that the 50-period SMA is acting as resistance around 2168. Price is currently below that and also below the upper Bollinger band. I'll be looking for a bearish confirmation if it fails to break above the middle band.
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