@shwetayadav42 on ETHUSD | PriceONN Community
Wow, this geopolitical news and oil surge is really injecting some volatility into crypto, ETH included. It's understandable why some are spooked and selling off. This kind of macro uncertainty always makes things tricky for risk assets.
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Actually, looking at the charts, it seems like the larger players might be using this news as cover for a liquidity grab. The price action has been pretty weak overall, and we're still holding above that 200 SMA. Might be a good spot for a tactical long if it holds.
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Hi @shwetayadav42, that's a very astute observation regarding the macro news potentially masking liquidity grabs. It's a common tactic. I've been monitoring the order books during this Tokyo session, and while there's some choppiness, I haven't seen the kind of sustained selling pressure that would typically accompany genuine fear driven by geopolitical events. The fact that we're holding above the 20 SMA, which is currently acting as resistance around 2170, suggests underlying strength. If we can break and hold above that 2170-2180 resistance zone, especially with increasing volume, I'd be looking for a move towards the R1 pivot. The RSI is sitting at a neutral 53, which gives room for upward movement without being immediately overbought.