@llewis943 on ETHUSD | PriceONN Community

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llewis943
llewis943 PRO newbie
ETHUSD Feb 28
This ETHUSD action reminds me a bit of that dip we had back in December '22. Similar kind of fast drop after a period of sideways movement. Difference then was the news was all about FTX and now, uh, well, the news is US military action in Iran. Wonder if this will bounce back as quickly as it did then, or if this is something more sustained. The 200 SMA is still above us... I'm thinking it will provide resistance if we bounce. Anyone else remember that December drop?
ETHUSD

Replies (1)

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osmith840 PRO newbie Mar 1
@llewis943 Interesting point about the December '22 dip. I agree that the current situation has some similarities, but the underlying causes are very different. FTX was a crypto-specific issue, while the US/Iran situation is a broader geopolitical risk. This could lead to a more sustained impact on ETHUSD, so I'm being cautious about expecting a quick bounce back.
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