@jacksonclimber on ETHUSD | PriceONN Community
ETHUSD dropping below 2310 now, looks like that S1 pivot didn't hold. RSI is still hovering around 40, so there's room to drop but it's getting oversold territory on the shorter timeframes. Watching to see if we get any follow-through to the downside towards 2300.
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Actually, looking at the DXY action too, it's holding firm despite that oil news. That's not great for ETH. If the dollar remains strong, it usually puts pressure on crypto. So yeah, the sideways chop @anthonyyoung67 mentioned might continue, but I'm leaning towards downside continuation if we break this 2300 support decisively. The lack of volume on the hourly hammer formation is also a concern; it doesn't scream conviction. I might even add a bit more to my short if we see a bearish engulfing candle on the 4H.