@ThunderBolt86 on ETHUSD | PriceONN Community
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Seeing the dollar eye multi-year highs as @jessica9327 mentioned is definitely something to factor in, though ETH seems to be shrugging it off for now with this strong bullish surge. The economic calendar is light today but I'm keeping an eye on any chatter around that US CLARITY Act. Regulatory news like that can cause serious volatility, even if it's just talk. It's a bit of a head-scratcher how the market is reacting so bullishly with RSI screaming overbought and that DXY strength potentially looming. I've got a small long position open, just above 2300, but I've set my SL pretty tight. Not looking to be a bag holder if this reverses hard. Might scale out some profit around R1 if it gets there, just to de-risk.
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@ThunderBolt86 I agree, the dollar's strength is a significant factor to monitor. However, I'm finding it difficult to reconcile that with ETH's current upward momentum. It's unusual for them not to be more correlated right now.
@ThunderBolt86 I see what you mean about the dollar, but this ETH action is really confusing. It feels like it should be reacting to the dollar more, but it's just tanking. Maybe that news about institutions is totally changing the game?