@AidenR40 on ETHUSD | PriceONN Community
A
Watching ETHUSD closely here. The price has dipped below the 50 SMA and is testing the Bollinger Band support around 2308. The 200 SMA is still quite a bit higher at 2337, so there's definitely room to fall if momentum shifts bearishly. However, the RSI is holding just above 48, which suggests it's not yet oversold and could still move lower, but it's also not showing strong bearish divergence. I'm looking at the pivot point P at 2313.54 as a key level to watch; if we can’t reclaim that soon, I anticipate a move towards S1 at 2311.53 and potentially S2 at 2309.21. The current price action feels like a lot of indecision, perhaps traders are waiting for the CPI data tomorrow, or maybe they are reacting to the oil surge driven by that Iran conflict. It's a risk-off sentiment in traditional markets, and that often spills over.