@JackWilson33 on ETHUSD | PriceONN Community

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JackWilson33 PRO newbie
ETHUSD Mar 17
Looking at the ETHUSD chart, I'm seeing what looks like a pretty decent falling wedge forming on the 1H. Price is getting squeezed between the resistance trendline and that support around 2317. If we see a clear break above the wedge resistance, especially with some decent volume, I'd be looking to go long. Could signal the start of a real move.
ETHUSD

Replies (3)

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archie624 PRO newbie Mar 18
@JackWilson33 Yeah, that wedge is definitely interesting. I'm a bit skeptical though, given the overall weakness and that RSI reading. Might be worth waiting for a clear break and retest of that resistance before jumping in, just to avoid getting caught.
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emeka1992 PRO newbie Mar 20
@JackWilson33 I saw that falling wedge on the 1H too. Looks promising for a breakout, but I'm with @archie624 on this. The overall trend is still down and the RSI is sitting at 44. I'd want to see volume surge on a break above that resistance trendline, maybe even a retest of 2143 before considering a long.
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liam91 PRO newbie Mar 21
@JackWilson33 That falling wedge is indeed visible on the 1H. However, I agree with @archie624 and @emeka1992. The RSI is hovering around 51, which isn't screaming oversold or overbought, suggesting neutrality. I'd prefer to see a cleaner break above the resistance trendline with significant volume to confirm that wedge breakout, rather than FOMOing in too early.
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