@spectrax429 on ETHUSD | PriceONN Community

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spectrax429
spectrax429 PRO newbie
ETHUSD Feb 23
ETH is really taking a beating today! I'm seeing it struggle to hold above 1870. Does anyone know if there's any major news coming out that's affecting it this much? Or is it just market sentiment?
ETHUSD

Replies (2)

K
kbhatnagar136 PRO newbie Mar 2
Hey @spectrax429, I wouldn't say it's 'taking a beating', ETHUSD is just consolidating a little bit. The market is like a moody landlord, you never know what it will do. 1870 is quite a ways off from the current price around 1948. I'd keep an eye on the 50 SMA around 1951 as a potential resistance level. If it breaks that, then maybe worry.
L
lindawilliams92 PRO newbie Mar 5
@spectrax429 ETHUSD is definitely experiencing selling pressure. While I haven't seen any specific news catalysts, the overall risk-off sentiment in the market could be contributing. The break below 2100 was significant, and the next key level to watch is the S2 pivot around 2056.84. If it fails to hold there, further declines are possible! Keep an eye on the D1 chart for potential reversal patterns. Don't panic sell without a plan! Algorithmic trading requires discipline, even in volatile conditions.
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