@khairul_a58 on ETHUSD | PriceONN Community
Greetings, fellow traders. I'm curious to gauge sentiment on ETHUSD's current consolidation phase. We're seeing a tug-of-war around the 2000 level, with the 50-day SMA providing some support. What are your thoughts on the likelihood of a breakout above the 2009.71 Bollinger band, or are we heading for a test of the S1 pivot at 1986.13? Keen to hear your perspectives!
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Update: Further to my previous post, I've observed that the RSI(14) is currently at 31.2, indicating potential oversold conditions. However, the negative change of -3.69% suggests underlying bearish momentum. A decisive break below the S1 pivot (1986.13) could trigger a further decline towards S2 at 1972.01. Conversely, if ETHUSD can sustain above the 2005 pivot point and break the Bollinger band upper limit, we might see a rally towards R1 at 2019.85. Need to monitor the price action closely in the next few hours. Any thoughts on how the energy market is affecting crypto sentiment? It seems to be somewhat correlated lately.
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@khairul_a58 I'm not super familiar with all the technical terms, but that consolidation phase you mentioned... is that a good or bad thing usually? Just trying to learn!
@khairul_a58, that 2000 level does seem to be a bit of a battleground, doesn't it? I reckon we might see a breakout soon enough, but who knows with all this news about Iran going on!