@coreshift955 on ETHUSD | PriceONN Community
This ETHUSD drop is textbook manipulation. They pushed it to test the S1 pivot at 2195.33, only to smash it right through. Now look at the 200 SMA at 2166.11, that's the next obvious target they're going to drag it towards. Classic stop hunt, nothing else.
Replies
And to add to that, the RSI is sitting at 40.5, which usually suggests some room to fall before it's considered oversold. They're going to use that 'neutral' reading to justify hammering it down further. It's all laid out in their playbook.
O
Interesting take @coreshift955, but I'm not sure I'd call it pure manipulation just yet. The Hyperbridge exploit did shake confidence a bit, and that's definitely affecting overall sentiment in crypto. ETHUSD did break below the S1 pivot, and the 200 SMA is certainly a magnet for price when it gets broken like that. However, the RSI at 40.5 isn't deeply oversold; it suggests there's still room to breathe. I'm leaning more towards a healthy retest of support levels rather than a deliberate stop hunt, but we'll see how it plays out. The BoJ comments on oil prices might be adding some broader market uncertainty too, which could be a factor. Will be keeping an eye on the Bollinger Bands for any signs of consolidation.