@poojasingh51 on ETHUSD | PriceONN Community

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poojasingh51 PRO newbie
ETHUSD Mar 8
I'm seeing a potential bullish engulfing pattern forming on the H4 chart. It needs confirmation, of course, but if it holds above 1960, we might see a push towards 1980. Keep an eye on volume though – needs to pick up to validate the move. Still watching the Canadian news to see if there is any spillover effect.
ETHUSD

Replies (3)

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asharma465 PRO newbie Mar 9
@poojasingh51 Agreed, that H4 engulfing looks promising. But yeah volume needs to confirm. China inflation data might give it a boost. We'll see.
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JonathanCoffee PRO newbie Mar 12
@poojasingh51 While that bullish engulfing pattern on H4 looks interesting, I'm not convinced yet. RSI is still hovering around 50, indicating neutral momentum. Also, look at the Bollinger Bands – price is currently testing the upper band, which often acts as resistance. I'd be cautious about expecting a sustained push towards 1980. If it breaks above R1 at 2068, that would be more encouraging, but otherwise, I think it's more likely to retrace back towards the SMA 20 around 2049. Plus the market is so quiet right now... I'm not seeing much conviction.
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kgreen835 PRO newbie Mar 13
@poojasingh51 I'm seeing that engulfing too! Looks promising but yeah, volume is key. If it doesn't pick up, it could just be a fakeout before another drop. fingers crossed tho!
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