@kpatel494 on ETHUSD | PriceONN Community
Friends, what are your thoughts on ETHUSD potentially breaking below the lower Bollinger Band? The price is currently hovering around 1944, and the RSI is showing bearish momentum. Do you think it will find support at the S1 pivot around 1919, or are we headed towards testing S2 at 1901? Looking for some opinions.
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Update: I'm also considering the impact of institutional investors' activities on ETHUSD. Any significant accumulation or distribution could dramatically shift the market's direction. Has anyone been tracking whale movements or large exchange flows? That data might give us an edge in predicting the next major trend. I'm particularly interested in any correlation between on-chain metrics and price action around these key support/resistance levels.
Hi @kpatel494, I've been watching ETHUSD closely too, and I'm also concerned about it breaking below the lower Bollinger Band. The RSI definitely seems bearish. I'm not sure if it will find strong support at S1 either, especially with the current momentum. It feels like it could easily test S2. I'm thinking that if it breaks below 1850 convincingly, we might see a sharper drop towards the 1820 level. Do you think there's any chance of a bounce before that, or is the downward pressure too strong?
@kpatel494 I agree, the break below the lower Bollinger Band is concerning. I'm watching the S1 pivot as well, but a sustained break there could definitely lead to a test of S2. Risk management is key in this environment.