@jessica2003 on ETHUSD | PriceONN Community

Adding to my previous analysis, I'm also watching the ETHUSD D1 chart. The 50-day SMA is still trending downwards, reinforcing the overall bearish bias. However, the RSI is approaching oversold territory, suggesting that the selling pressure may be waning. A potential bullish divergence on the daily RSI could foreshadow a trend reversal, but confirmation is needed. I'll be looking for a break above the 1967 level (50 SMA) to confirm a possible shift in momentum. Until then, short-term bearish trades remain favored, but with tight stop losses.

Update: A closer look at the hourly chart reveals a potential descending triangle forming, with the horizontal support around 1935. A confirmed breakdown below this level would likely accelerate the decline towards the 1920 area. Conversely, a sustained move above the 20-SMA on the H1 chart could invalidate the bearish outlook, opening the door for a retest of the 1960 resistance. Keep an eye on volume for confirmation of either scenario. Also, the Bollinger Bands are narrowing, indicating a potential volatility expansion soon.