@nwright657 on ETHUSD | PriceONN Community
N
ETHUSD is showing signs of consolidation around the 2060 level. I'm anticipating a potential breakout either to the upside, targeting 2080, or a breakdown towards 2040. A tight stop-loss order is crucial given the current market indecision. Monitoring order book depth for clues on directional bias.
Replies
@nwright657, I agree that a tight stop-loss is essential right now. ETHUSD feels like it could go either way. I'm seeing that consolidation around 1970, but the RSI is still pretty neutral. I'm leaning towards a bullish breakout, but I'll be watching the order book depth like you suggested before committing.
J
@nwright657, I see what you mean about consolidation, but this feels more like a freefall than indecision, tbh. A tight stop-loss is definitely the play, I agree there. I'm a little skeptical about a breakout *upwards* though, given the current momentum. I'm leaning towards a breakdown past 2040. Might even set a short order there, but I'll wait for confirmation. Order book depth is a good shout, I'll have a peek. Thanks for the insight!