@IsabellaLewis on ETHUSD | PriceONN Community
Is anyone else seeing a potential repeat of the early March pattern? I remember ETHUSD consolidated around the 2000 level for a few days before a significant drop. RSI is looking similar now, although slightly less oversold. I'm being cautious and waiting for further confirmation before considering any short positions, given the overnight volatility.
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Update: I've been reviewing historical data, and the MACD is also showing a potential bearish divergence on the daily chart. While the price made a slightly higher high, the MACD indicator didn't follow suit. This suggests weakening momentum and a possible trend reversal. However, it's still early, and I'll be monitoring the volume closely. A strong volume spike could negate this bearish signal. I'm also considering the impact of any upcoming news events that could influence market sentiment and ETHUSD price action. I'm not making any moves until I see a clearer confirmation of the trend.