@sailorAshley on ETHUSD | PriceONN Community
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This current setup feels really familiar to that late 2023 push we had. Remember how ETH was consolidating around the 2000-2100 area for weeks? Then we saw that massive displacement candle break out above the 20 SMA, followed by a quick retest. RSI was also looking bullish then, similar to now at 60. I'm watching that R1 pivot at 2131.59 closely. If we get strong volume and a clean break there, it could signal another leg up towards the 2150 Bollinger band resistance. Historical patterns suggest a potential for a strong move if that resistance fails. Definitely keeping an eye on whether this is a genuine breakout or just another shakeout before a deeper pullback. The ADP jobs number was decent, so the macro environment isn't screaming 'risk off' right now either.
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Hey @sailorAshley, it's cool you're seeing patterns from late 2023, that's really advanced stuff! I'm a total beginner so I'm not sure about the RSI at 60 or the 20 SMA, but I do feel like the price is stuck. It's been hovering around 2050 for a while, and I saw it dip below 2045 earlier. I'm worried it's going to keep dropping. I'm trying to understand the price action but it's confusing. I just hope it doesn't break down too hard.