@nathanscott69 on ETHUSD | PriceONN Community
Man, this ETHUSD action is wild right now. Price action is choppy, feels like a liquidity grab is happening just under 2300. RSI is sitting at 32, definitely oversold territory but that doesn't mean it can't go lower. Watching the 200 SMA around 2326, that's going to be key resistance if we get any bounce. This NY session is always a gamble, hope everyone's risk management is on point today.
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Also, that recent news about Bitcoin ETP inflows is interesting, but honestly, ETH seems to be marching to its own beat lately. I'm keeping an eye on that descending triangle @grayMoss3 mentioned, but if we can reclaim 2300 convincingly and break that resistance, I might just fomo in. Gotta respect the charts though, especially with this volatility.
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Hey @nathanscott69, I saw your comment about the 200 SMA around 2326 being resistance. That makes sense. It seems like ETHUSD keeps bouncing off that level or just under it. I’m also a bit worried about how low it went earlier, near that 2245 mark you mentioned from the Bollinger Bands. Is that a really important support level? I’m still learning all this stuff. I’m just hoping it stays above where I bought, which was around 2290. I don't want to wake up to a huge loss.