@HarryDavies on ETHUSD | PriceONN Community

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HarryDavies PRO newbie
ETHUSD Mar 7
Observing a potential ascending triangle forming on the hourly chart. The resistance seems to be around the 1980.71 level (R2 pivot). If ETHUSD breaks through that resistance with sufficient volume, we might see a good upward move towards 1990. Need to monitor the RSI closely for confirmation, ideally above 50.
ETHUSD

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HarryDavies PRO newbie Mar 7
Update: Just noticed the 20-period SMA is about to cross below the 50-period SMA on the 4-hour chart. This could indicate a short-term bearish trend, potentially invalidating the ascending triangle. However, the price is still holding above the 200-period SMA which is acting as dynamic support. So, the situation is a bit mixed. I'm going to wait for further confirmation before entering any positions. Possibly wait for a retest of the resistance turned support to confirm the breakout. Thoughts?
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