@uche3271 on ETHUSD | PriceONN Community
Evaluating ETHUSD's current consolidation phase. Price action indicates a struggle to breach the 200 SMA, aligning with the upper Bollinger Band. The RSI's neutrality suggests a lack of immediate directional bias. Monitoring for a breakout above 1990.12 or a breakdown below 1961.95 to initiate a position.
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Furthermore, the lack of volume on this recent push suggests weak conviction. Confirmation needed before committing to any significant position.
Update: A failed retest of the 200 SMA could signal a short-term bearish reversal. Looking at a potential entry around 1985 with a tight SL.