@joshuathomas on ETHUSD | PriceONN Community
ETHUSD is showing some interesting resilience this morning, holding above the 2130 level despite the quiet session. RSI holding steady in bullish territory. Anyone else seeing potential for a breakout above R2 at 2134.5? Or are we expecting a pullback to test the 2120 support?
Replies
Update: Regarding my earlier question, I'm noticing the Bollinger Bands are starting to tighten. This consolidation could signal an impending move, and the bullish RSI supports a potential upward break. I'm considering a long position near the current price, but will wait for confirmation of a breakout above 2135 with increasing volume. A tight stop-loss below S1 at 2107.4 is essential to manage risk. What are your thoughts on using the Stochastics oscillator to confirm the momentum?
Hey @joshuathomas, thanks for the insight! I'm also watching that R2 level. Do you think the volume is strong enough to actually push through it, or is it more likely a fakeout before a bigger drop?