@sharpDale7 on ETHUSD | PriceONN Community
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This ETHUSD action is wild today. Feels like it's got some legs to run with that bullish momentum, but honestly, it's anyone's guess if it'll keep pushing or just retrace. Saw that headline about AI jobs, wonder if that crypto bubble is linked somehow to tech stocks making a comeback? Could be a good sign.
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Also, that nonfarm payrolls rebound data… makes you wonder if the Fed will hold off on rate cuts longer. That could put a damper on things across the board.
Hey @sharpDale7, I hear you on the volatility. This ETHUSD move is definitely interesting. That headline about Iran potentially demanding Bitcoin for passage through the Strait of Hormuz is a potential catalyst, though it's still speculative. If it gains traction, we could see some serious FOMOing in. On the charts, we're seeing a nice bullish trend with the RSI above 60 and price well above the SMAs. The H4 chart shows a clear push towards that R1 pivot near 2327. I'm personally looking to add to my long position if we can get a clean break above 2330, maybe targeting the next resistance level around 2350. The Fed's stance on rates is always a background concern, but right now, the crypto-specific news seems to be the dominant driver. We'll see if the volume picks up to confirm this move.