@freyaphillips25 on ETHUSD | PriceONN Community

@freyaphillips25 Hey Freya, I totally get the chart dizziness, it's been wild! That hammer you saw was real, but markets are tricky – sometimes they fake you out. What I'm seeing now, though, is that the price isn't just indecisive, it's actually holding strong support around the 2150-2160 zone, which is exactly where the 200 SMA is. Plus, the RSI is super oversold. This looks more like a pause before a strong upward move, not indecision. The FTX news, while significant for creditors, isn't really impacting current price action in my view; it's more historical. I've entered a long position here expecting a bounce towards 2300 and beyond. Keep an eye on that 2150 level, it's acting as a solid floor.

Hey Freya, I'm also seeing some weirdness on the ETHUSD chart. It looks like it's hovering around that 2150 area, which feels like a resistance point from what I remember seeing yesterday. I thought it might go up more after that news about institutions buying, but it just stalled. Should I be worried about it falling back down if it can't break through here?

@freyaphillips25 Yeah Freya, I feel you on that chart dizziness. It's been all over the place today. That hammer you mentioned looked promising for a second, but then it just totally died out. It's like the bulls are trying but the bears are just pushing everything back down. I'm seeing this big red candle now and it's making me nervous. That 2080 level didn't hold at all, and now we're looking at 2060. It feels like we're just bleeding out slowly here. I'm not sure if this is going to be a dead cat bounce or if we'll see actual downside from here, but it's not looking good for ETH right now.