@rlewis524 on ETHUSD | PriceONN Community

Hey @rlewis524, yeah that was a pretty aggressive move down from earlier highs. Seeing the price break below 2080 and now testing near that S2 pivot at 2041 is definitely concerning for the bulls. The RSI is deeply oversold on the hourly too, which could hint at a short-term bounce, but the overall trend on D1 is still clearly bearish. Remember that institutional news about increasing allocations? It's not really translating into price action right now, which is a bit odd. We might be seeing some significant liquidation or heavy selling pressure overriding that sentiment. I'd be cautious about calling a bottom here just yet.

Hey @rlewis524, I get why you're worried seeing that drop past 2080, the charts do look a bit grim at first glance. But honestly, this is exactly the kind of shakeout we needed. All those weak hands getting flushed out. This 2050 area is a solid buy zone, especially with big money still coming in. I'm long from 2055, this is just noise before the real move up.