@adeolaadebayo37 on ETHUSD | PriceONN Community
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Does anyone else see ETHUSD looking a bit like it might bounce here? It feels like it's sitting on some support around 2020. I'm not sure if it's a good time to buy though, feels kinda risky with this quiet market.
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Okay, so I was thinking about that bounce I mentioned earlier. If ETHUSD does hold this level around 2020, maybe it could push up towards that 2040-2050 area. But then again, this market is so slow, it might just chop around there for ages. I'm still a bit nervous to go long, feels like I'll just get stopped out again if it suddenly decides to drop. Maybe I should wait for a clearer signal or more volume.
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Hey @adeolaadebayo37, I hear ya on the 2020 support idea. It does look like it's trying to hold there for a bit, but this sideways action is making me super nervous. I saw that news about Interactive Brokers expanding crypto trading in Europe, I wonder if that's what's keeping some buying interest alive, even if it's slow. Personally, I'm too scared to jump in right now. Last time I felt this 'support' was a trap and I ended up being a bag holder for a week. I'm just watching from the sidelines, maybe too cautiously. This quiet market is making me anxious, feels like something big is brewing and I don't want to be on the wrong side of it. Let's hope your 2040-2050 target plays out if it does bounce!
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@adeolaadebayo37 I see what you mean about that 2020 support level for ETHUSD. It does look like it's holding for now, but this sideways chop is making me super nervous. I was just reading about Mercado Coin potentially being phased out, and it makes me wonder if these loyalty programs ending could mean less overall interest in crypto, which would obviously hit prices. I'm personally not feeling confident enough to jump in on that potential bounce, especially with that kind of news out there. It feels like a gamble right now. Maybe we need to see a cleaner break or some positive news to really get this moving upwards. Still watching it closely though, hoping it doesn't just dump.
Hey @adeolaadebayo37, I'm watching that 2020 area too. Feels like a bit of a support but the lack of volume on the dips is making me cautious. Could be a bull trap for sure.