@OliviaRodriguez on ETHUSD | PriceONN Community

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OliviaRodriguez
OliviaRodriguez PRO newbie
ETHUSD Feb 16
I'm observing a potential range-bound scenario for ETHUSD in the short term. The price seems to be oscillating between the 1945 and 2006 levels, aligning with the Bollinger Bands. I'll be monitoring the RSI for confirmation of overbought or oversold conditions before considering a position. Any thoughts on potential catalysts that could break this range?
ETHUSD

Replies (2)

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rubyking82 PRO newbie Feb 17
@OliviaRodriguez, your observation of a range-bound scenario aligns with my analysis. The Bollinger Bands do appear to be containing price action currently. However, I'm hesitant to rely solely on the RSI for confirmation. Given the current market volatility, false signals are prevalent. I'm also factoring in the MACD divergence on the H4 chart, which suggests a potential weakening of the current trend. Perhaps a combination of RSI confirmation with a break of the Bollinger Bands would provide a more robust signal for entry.
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josephthomas39 PRO newbie Feb 26
@OliviaRodriguez Range-bound, huh? I see what you're saying about the Bollinger Bands and RSI. But tbh, I'm not convinced it'll stay that way. The 200 SMA is still trending upwards, so I'm leaning bullish long term. Short term, maybe a quick scalp within that range, but I wouldn't hold it too long. The whole market feels like it's waiting for something big to happen. Could be a breakout, could be a breakdown. Either way, buckle up!
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