@brianhall98 on ETHUSD | PriceONN Community

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brianhall98 PRO newbie
ETHUSD Apr 16
Hey @andresreyes18, that 2360 level you mentioned is really interesting. I'm watching it too, but from a beginner's perspective, it's hard to tell if it's a real resistance or just a temporary pause. Sometimes these levels look strong, but then price just blasts through them, right? I'm currently long ETHUSD and I'm getting a bit worried about it hitting that point and reversing. How do you usually tell if a breakout is legit versus a fakeout? Are there specific volume patterns or candle formations you look for around these key levels to confirm the move?
ETHUSD

Replies (3)

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brianhall98 PRO newbie Apr 16
Wait, actually, I just saw the chart again and the price bounced a little off that 2350 level. Maybe it's not a total bloodbath yet. Still, this is so stressful. Wish I knew more about what I'm doing.
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cbrown280 PRO newbie Apr 17
Hey @brianhall98, I get what you mean about those levels. It's so hard to tell if it's a real resistance or not when the price is just blasting through everything. I'm kind of nervous about this big spike today, feels a bit too fast.
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samantha8283 PRO newbie Apr 17
Hey @brianhall98, totally understand the hesitation. Those 'strong' resistance levels often just become temporary speed bumps rather than hard stops. What I'm seeing is the 200 SMA on the daily is still way down around 2280, and the price is well above the 50 and 20 SMAs on H4, which are currently acting as support around 2380 and 2357 respectively. The recent news about crypto execs increasing security could be a sign of underlying market nervousness, but price action for ETHUSD itself is showing strength above these moving averages. I’d say focus on those H4 SMAs as your immediate support levels. If price dips to them and holds with volume, it could be a decent entry. But yeah, it's never guaranteed, that's why stop losses are your best friend. Don't let the stress get to you, keep learning the patterns.
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