@apexhunt574 on ETHUSD | PriceONN Community

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apexhunt574 PRO newbie
ETHUSD Mar 30
This ETHUSD chop reminds me of late 2022. Remember how it just went sideways for weeks, teasing longs and shorts before finally breaking hard in one direction? Seems like we're stuck in a similar range here, just bouncing between the 2040s and low 2020s. The RSI is hovering around 45, showing no real conviction either way. I'm not seeing any clear patterns for a sustained move yet, just noise.
ETHUSD

Replies (1)

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apexhunt574 PRO newbie Mar 30
Yeah, thinking more about that 2022 comparison... the volume was completely dead back then too, just like it feels now. Nobody really wanted to commit. The fact that the 200-day SMA at 2070 is still acting as a ceiling, and we can't even hold above the 50-day SMA at 2017, tells me the big money isn't interested in pushing this up yet. They're probably just shaking out the weak hands and waiting for a better entry point, or maybe just trying to lull everyone into a false sense of security before the next big dump. Hard to tell with these markets.
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