@cdavis205 on ETHUSD | PriceONN Community
ETH looks pretty solid here, holding above the 200 SMA and the R1 pivot. We're seeing some decent buying pressure with that 2.59% move today. RSI is climbing but still has room before hitting overbought territory on the hourly. I'm leaning towards a push towards R2 around 2337.69 in the next few hours if this momentum continues.
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Actually, thinking about that R2 level... it coincides with the upper Bollinger band too. That might be a bit of a resistance zone. If we get a strong daily close above 2330, that would be a lot more convincing for a continued uptrend. But for now, I'm watching for that potential liquidity grab just below the current price before it potentially heads higher. A quick dip to shake out weak hands then blast off is a classic New York session move. The recent Coinbase news about crypto-backed loans might also be injecting some fresh capital into the market, which is a good sign.