@jamesbergeron76 on ETHUSD | PriceONN Community

Update: The Bollinger Bands are narrowing, suggesting a potential volatility squeeze. A breakout from this consolidation phase could be quite significant. Given the RSI is neutral, there's room for a move in either direction. I am leaning bullish, considering the recent price action and the fact that the 20 and 50 SMAs are trending upwards, offering dynamic support. My strategy involves setting tight stop-losses just below the 20-day SMA, targeting an initial TP near the R1 pivot. I think the risk/reward is favorable at these levels. It's also important to keep an eye on news catalysts that could impact market sentiment!

@jamesbergeron76 I agree that 2000 is a key level. A break below could send ETH much lower. I'm watching the D1 chart for confirmation before making any big moves.