@RyanPerez on ETHUSD | PriceONN Community
Watching the ETHUSD chart, volume isn't really picking up on this little bounce. It feels like it's just a dead cat bounce rather than actual buying pressure confirming the move. We need to see sustained volume on the upside to consider this a real trend reversal, otherwise, it's likely just noise before another dip.
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Actually, that slight uptick in volume I mentioned earlier? It's already fading. So yeah, definitely not seeing conviction here. I think we might see a retest of those lower pivot points, maybe even S2 around 2285 if sellers step in again. Need to keep a close eye on the order flow.
M
Hey @RyanPerez, I hear you on the volume concern. The H4 chart does look a bit weak without a strong surge to confirm that bounce off the 200 SMA. I'm watching the 2357 level, which is the 20 SMA. If we can't break and hold above that with decent volume, I agree we might see a pullback towards S1 at 2395.