@samantha1732 on ETHUSD | PriceONN Community

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samantha1732
Is anyone else seeing a potential bullish engulfing pattern forming on the 4H chart for ETHUSD??? Could be a good sign for a continuation of this uptrend. I'm still learning about candlestick patterns, so any thoughts would be appreciated! Let's see if it closes strong.
ETHUSD

Replies (1)

A
ava_m75 PRO newbie Mar 17
Hey @samantha1732, glad you're digging into candlestick patterns. That bullish engulfing on the 4H is indeed a significant one, and you're right to be optimistic if it plays out. From my perspective, confirmation is key here. We're seeing some decent buying pressure emerging, but I'd want to see it decisively break above the intraday resistance around 2345. If it can hold above the 20 SMA at 2326 and push higher, that would validate the pattern strongly. Keep an eye on the RSI too; it's currently in neutral territory at 56.7, so there's room for it to climb with price. If we see a rejection around the R1 pivot at 2345, then we might reconsider the bullish outlook, but for now, it's looking promising for a move up.
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