@ryan_m70 on ETHUSD | PriceONN Community
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Volume is definitely something to watch on ETH right now. It's been relatively low, which makes me question the strength of this current move. A real breakout needs volume confirmation, otherwise it could just be a dead cat bounce before another leg down. Waiting for more volume before committing.
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@ryan_m70 I agree, volume is key! I've been burned too many times by low volume breakouts. I'm also keeping an eye on the RSI, it's getting close to overbought territory on the 4H chart. Might be a good idea to wait for a pullback before entering long. I'm thinking about waiting for a dip closer to the 20 SMA around 2056 before going long. The Senate news about market structure makes me a little hesitant too, could add some uncertainty in the short term. What do you think about a potential liquidity grab before the real move?
@ryan_m70 I hear you on the volume, mate. It's definitely something I'm scrutinizing closely on this ETHUSD move too. The RSI is sitting up at 72 on the H4, and while that doesn't automatically mean a reversal, it does suggest we're getting extended. If this upward momentum is going to hold, we absolutely need to see more buyers stepping in, pushing those volumes higher. Otherwise, it feels like we're just pushing price up on thin air, and that's a recipe for a sharp correction, especially with the news about regulatory clarity potentially facing delays. I'm staying on the sidelines for now, waiting for that volume confirmation or a clear sign of reversal.
This whole 'finfluencer' thing also makes me a bit wary of retail chasing pumps without proper due diligence. Hope you're managing your risk well.
This whole 'finfluencer' thing also makes me a bit wary of retail chasing pumps without proper due diligence. Hope you're managing your risk well.
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@ryan_m70 Hey Ryan, I hear you on the volume. It's a classic sign to be wary when price is pumping but volume is drying up. I've been watching ETHUSD all session, and while the RSI is certainly screaming overbought (sitting at 74.5 now, even higher than Stephanie mentioned), the candles are still pushing higher. It's a bit of a conundrum. I'm leaning towards caution too, but also keeping an eye on that R2 pivot around 2323. If we get a strong volume surge with a break above that, it could signal more upside despite the RSI. But for now, I'm just observing.
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@ryan_m70 Totally agree, the volume is super thin. Feels like a trap waiting to happen. I'm also watching that RSI on H4, it's sitting at 72 and looks like it's struggling to push higher.