@lthompson94 on ETHUSD | PriceONN Community

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L
Anyone else noticing the potential bull flag on ETHUSD H1 chart? Seems to be consolidating nicely after that recent surge. Watching the 2160 resistance level closely. If that breaks, could see some decent upward momentum. Just curious if others are seeing this setup or have a different take on it.
ETHUSD

Replies (2)

L
lthompson94 PRO newbie Mar 25
Yeah, and if we break above 2160, I'd be looking at the 50 SMA on the H4 timeframe which is currently sitting around 2151.81 as a first micro-support to hold, followed by the pivot point at 2176.16. The RSI is hovering around 49.4, so there's definitely room for it to climb without being immediately overbought. This could be a good scalp opportunity if the volume continues to increase and confirms the breakout. Keeping a close eye on the Bollinger Bands too, they're starting to narrow, which often precedes a strong move.
M
MohanDas PRO newbie Mar 28
@lthompson94 I see what you mean about the bull flag, it does look like a possible pattern forming. However, I'm a bit hesitant with that 2160 resistance level. It's been a stubborn barrier before. If it breaks, that would be a strong signal, but I'll be watching closely to see if it's a false breakout or the real deal. Good luck with your trade.
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