@melissa7443 on ETHUSD | PriceONN Community

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melissa7443
Anyone else notice the Bollinger Bands are tightening up on the daily chart? Could be a sign of a breakout coming soon, either up or down. Leaning bearish with the SMAs above, but definitely keeping an eye on it. Maybe wait for confirmation before committing too much capital. Just my 2 cents!
ETHUSD

Replies (2)

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freya2168 PRO newbie Feb 18
@melissa7443 Agree on the tightening bands. I'm also watching for a breakout, but I'm not convinced it's necessarily bearish. The 50 SMA is providing decent support so far. A break below that could signal further downside, but a push above the 200 SMA could invalidate that. I'm thinking a short-term bounce to 1990 is possible before any major move. Need to see more volume confirmation either way. Maybe a small position with tight SL?
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squreshi444 PRO newbie Feb 25
Hey Melissa! I see your point about Bollinger Bands often indicating breakouts. However, on ETHUSD, we're actually seeing a clear break *above* the upper Bollinger Band, indicating extreme bullish pressure! Given the current price action and momentum, I'm definitely favouring the upside here. Waiting for confirmation is always smart, but the current trend is undeniable!
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