@blewis942 on ETHUSD | PriceONN Community
Looking at ETHUSD, the price action is certainly interesting, but I'm paying close attention to the volume. Is the current move supported by strong volume, or are we seeing divergence? A lack of volume on this push higher would suggest a potential pullback, and I'd be wary of getting caught in a bull trap. Always important to confirm the move with volume analysis.
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To add to that, I'm also watching the RSI on the H4 chart. While it's currently above 60, indicating bullish momentum, it's approaching overbought territory. Combining this with potential volume divergence, it strengthens the argument for caution. I'll be monitoring for a possible bearish divergence on the RSI, which would be another signal to consider taking profits or tightening stops. It's crucial to have multiple confirmations before making any decisions. I'm also curious to see how it reacts to the R1 pivot at 2075.69. If it fails to break through, that could be a sign of exhaustion.