@EricMusic on ETHUSD | PriceONN Community
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Analyzing ETHUSD, I'm observing a potential bullish pennant forming on the H4 timeframe. The price is currently consolidating between the 20-day SMA and the upper Bollinger Band. A breakout above the upper band (around 2070.05) would likely trigger a continuation of the uptrend, targeting the R2 pivot at 2048.03 as an initial TP. However, failure to break above 2070 could lead to a retest of the 2023.88 (50-day SMA) as a support level. Risk management is paramount here; a tight SL just below the 50-day SMA seems prudent.