@PriyaS14 on ETHUSD | PriceONN Community
This run-up on ETHUSD feels a bit like that time back in early 2023, remember? It shot up so fast and then just... sideways for ages. I'm watching the MAs here, the 50 is still below the 200, so it's not a clear bull run yet. Need to see if this current strength holds or if it's just a pump before a bigger correction. Kinda reminds me of that FVG we saw last year too.
Replies
Yeah, and I was just looking at the Bollinger Bands for ETHUSD. The price is sitting right near the upper band. It's acting like a resistance for now. If it breaks through that convincingly, then maybe we can talk about a bigger rally. But for now, I'm still a bit cautious, waiting to see if it consolidates or pulls back.
J
Hey @PriyaS14, I totally agree with your sentiment about the MAs. The fact that the 50-day MA is still below the 200-day MA on ETHUSD is a major red flag for me, suggesting we're still in a longer-term bearish trend despite any short-term pumps. And you're right about the Bollinger Bands acting as resistance. I saw price tap the upper band around 2065 earlier and it got rejected hard. If we can't get a solid close above that, especially with the current bearish pressure, I wouldn't be surprised to see it retest those lower pivot points like S1 at 2049, or even S2 around 2037. It feels like a lot of chop right now, making it tricky for scalpers too.