@asharma260 on ETHUSD | PriceONN Community
Watching ETHUSD push higher during the NY session. RSI is way overbought at 81, but the SMAs are all pointing up and price is just respecting the higher pivots. Anyone else seeing a potential bull flag forming on the 15min?
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Also, looking at the daily pivot at 2257.25, if we can't decisively break and hold above that soon, the market might start to price in a reversal. The 200 SMA is still a good ways down at 2144, so there's plenty of room for a correction if the bulls lose steam here. Need to see sustained volume above that pivot.
Hmm, actually re-evaluating that flag idea. The displacement candles are strong, but that RSI reading is screaming overbought. I'm leaning towards a short-term pullback before any further upside. Maybe testing the 20-period SMA around 2244. It feels like a bit of a trap being set for FOMO buyers right now, given the geopolitical background too with that Iran news affecting markets indirectly. Always gotta be careful when things look this smooth.