@tdavies290 on ETHUSD | PriceONN Community

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T
Anyone else seeing ETH consolidate around the 2300 level? It feels like it's just hovering here, almost like it's taking a breather before the next move. I'm watching the 20 SMA on the H4 chart, it's sitting just above current price action. Curious if others are spotting a potential setup developing.
ETHUSD

Replies (1)

T
tdavies290 PRO newbie Apr 29
Actually, on closer inspection, the 50 SMA is actually below the current price, around 2294, which is interesting. The 200 SMA is still way up at 2324 though, acting as a significant resistance zone. So we have this tight range between the 50 SMA and the 20 SMA, with that higher 200 SMA looming. The news about potential pullbacks and resistance near $2,450 is definitely on my mind too, makes me a bit hesitant to go fully long right now. It feels like we're in a bit of a no-man's land, waiting for a catalyst. I'm just hoping it doesn't break down through that 2290 support area, as my current position is just above that.
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