@stephaniemartin - ETHUSD | PriceONN Topluluk
ETH is looking prime for a move up, imo. We've seen a solid bounce off the 50 SMA around 2043, and RSI is comfortably above 50. I'm targeting the R1 pivot at 2087.98 initially, with potential to test the upper Bollinger Band around 2082.34. Let's see if this Brazil inflation news helps push us higher.
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And just to add to that... keep an eye out for a potential FVG forming above the R1 pivot. If we break through with some decent volume and displacement, that could signal a much larger move towards R2 at 2105.73. I'm watching closely for inducement below the pivot before a strong push up. NFA, obviously, but this is my primary scenario. Gotta get back to lunch, will check in later.
@stephaniemartin, I appreciate your insights on ETH. As a beginner, I find the SMA and RSI indicators helpful for understanding the trend. I see that the price bounced off the 50 SMA as you mentioned, which is encouraging. Do you think the upper Bollinger Band around 2144.44 is a strong resistance level? I'm trying to learn more about how to identify these levels. The Brazil inflation news might give it a push I think. Thanks for sharing your thoughts!
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@stephaniemartin, your analysis is solid but I'm not entirely convinced about a sustained move upwards just yet. While the bounce off the 50 SMA is encouraging, the RSI is still relatively neutral, and volume remains low. I'm seeing resistance around 2090, and a break above that level is crucial for confirming bullish momentum. The news about Circle's stock performing well is a positive sign for the broader crypto market, but I'm not sure if it's enough to overcome the current risk-off sentiment. I'm waiting for a clearer signal before committing to a long position, personally. Maybe after a few hours of sleep things will look clearer.
@stephaniemartin, I see your point about the 50 SMA bounce and the potential for that FVG formation. However, I'm a bit hesitant to commit significant capital here, especially with the market still in the quiet Asian session. The volume isn't confirming the bullish conviction just yet, and we're seeing ETH hover just below the pivot point at 2334.38.
My automated systems are monitoring, but they're programmed to avoid entering large positions during these low-liquidity periods unless there's a very clear, high-probability setup. I'm particularly wary of overnight moves given how thin the order books are right now. The GSR news about acquiring Autonomous and Architech is interesting for the broader crypto space, but it doesn't seem to be directly impacting ETHUSD price action significantly at this moment. I'll be watching to see if we can break and hold above the daily pivot and the upper Bollinger Band for a more convincing bullish signal.
My automated systems are monitoring, but they're programmed to avoid entering large positions during these low-liquidity periods unless there's a very clear, high-probability setup. I'm particularly wary of overnight moves given how thin the order books are right now. The GSR news about acquiring Autonomous and Architech is interesting for the broader crypto space, but it doesn't seem to be directly impacting ETHUSD price action significantly at this moment. I'll be watching to see if we can break and hold above the daily pivot and the upper Bollinger Band for a more convincing bullish signal.