@izwan7581 on ETHUSD | PriceONN Community
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Anyone else watching ETHUSD right now? It feels like it's just hovering around this 2140 area. The volume is super low, and it's not really doing much. I was hoping for a clearer move by now, but it's just sitting here. What are you guys seeing on your charts?
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Hi @izwan7581, I agree, ETHUSD has been really sluggish lately around that 2140 area. It feels like it's just consolidating without real conviction. The low volume is definitely a concern for any significant move. I'm also watching it, and frankly, I'm a bit hesitant to commit to a trade here. It looks like it's teetering on the edge, and I fear a breakdown rather than a strong breakout. I saw some news about Gemini's IPO strategy shift and a lawsuit, which might be adding some underlying nervousness to the crypto market in general, even if it's not directly impacting ETHUSD price action right now. For me, unless we see a clear break above 2160 with increasing volume, I'm staying out. Even then, with the SMAs above, I'd be cautious. I'm looking for signs of weakness below 2125 first.
Yeah @izwan7581, that 2140 area is just dead money. Feels like the market makers are deliberately keeping it quiet before they decide to blow it up in one direction or the other. Classic pre-news chop.