@divyarao19 - ETHUSD | PriceONN Topluluk
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Good morning all. Anyone else seeing this ETHUSD chart like a broken record? This sideways chop is just pure manipulation to sweep the lows before any real move. The 2000 level is acting like quicksand. What's the plan when it keeps failing to hold?
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Hey @divyarao19, I feel you on that sideways chop. It's been pretty frustrating trying to pick a clear direction. The 2000 level is indeed a major psychological point, and its inability to hold suggests a lot of indecision or perhaps just a prolonged accumulation phase. However, looking at the current price action, we're sitting right at R1 pivot at 2134.47. The RSI is at 58, which is neutral but leaning towards bullish momentum. The 20-day SMA at 2123.56 is also acting as support, and price has bounced off it earlier. I'm cautious about declaring a clear trend yet, but if we can break decisively above R1 and hold it, then maybe that quicksand feeling at 2000 will start to recede. I'm not convinced it's pure manipulation, but rather a market testing boundaries before a larger move, possibly triggered by that broader crypto sentiment shift we're seeing with loyalty programs ending.
Hey @divyarao19, I totally get what you mean about this chart feeling like a broken record. It's so frustrating! I'm pretty new to this, but I've been trying to follow some crypto educators on Twitter, and a lot of them were talking about how ETH was consolidating before a big move. But honestly, seeing it hover around 2050 and keep dipping below 2045 is making me super nervous. I entered a small position yesterday thinking it would bounce, but now I'm just staring at a small loss and I don't know whether to cut it or wait. This whole 'sweeping the lows' thing sounds like what's happening, and it's honestly terrifying when you're just trying to learn. Is 2000 really that big of a deal to hold?