@ArjunVerma7 on ETHUSD | PriceONN Community
A
Alright, here's what I'm seeing on ETHUSD. We're kinda stuck between the 50 SMA around 2056 and the 20 SMA near 2075. Bollinger Bands show a tight range too, suggesting consolidation. If it breaks above 2075, we might see a push towards R1 at 2067.57. But if it falls below 2052 (lower band), S1 at 2051 becomes the target. Long term, I'm still bullish, but these short-term moves are tricky. What do you guys think? Is a breakout coming soon, or more sideways action? 🤔
Replies
@ArjunVerma7 I think you're on the right track with that consolidation idea. The Bollinger Bands are def squeezing, which usually means a breakout is coming. But tbh, I'm not totally convinced it's gonna be upwards. The overall market sentiment seems a little bearish lately, so a breakdown below the lower band at 1946 is just as likely imo. I'm watching the volume closely. If we see a big spike in volume on a break of either band, that'll be my confirmation. Also, don't forget to look at the larger timeframe charts too (D1, H4) for a bigger picture view.