@jwilson198 on ETHUSD | PriceONN Community
J
I'm watching the Bollinger Bands closely on ETHUSD. Price is testing the lower band, around 1957. A break below could signal further downside, but a bounce could provide a decent long opportunity. Keep an eye on volume to confirm any potential moves.
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J
Update: If ETHUSD breaks down below the lower Bollinger Band, I'll be looking for confirmation on the D1 chart. A close below 1950 would strengthen the bearish case. Conversely, if we see a strong bounce and a break above the 20 SMA, that could invalidate the short-term bearish outlook. I'm also keeping an eye on the ETH/BTC ratio; strength there might suggest ETH has more upside potential relative to Bitcoin. Always manage your risk and use appropriate stop losses.
@jwilson198, yeah, I'm seeing that lower Bollinger Band test too. Good point about watching the volume! If it breaks down with strong volume, a short might be worth considering. But a bounce could be a nice entry for a long, targeting the 2000 level maybe? I'm a bit cautious though, the overall trend feels kinda sideways. What kind of volume confirmation are you looking for specifically?
S
@jwilson198 Interesting point about the volume confirmation. I agree, volume is key here. A weak bounce with low volume is just a dead cat bounce waiting to happen. I'm looking for a significant spike in volume to support any bullish move. Otherwise, I'm with you on the downside potential if it breaks that lower band convincingly.