@ashley90 on ETHUSD | PriceONN Community
This sharp drop looks like a textbook dead cat bounce attempt after the big sell-off. Watch for a double bottom formation if it holds near 2050.
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Hey @ashley90, I see what you mean about the dead cat bounce idea, but honestly, I'm not convinced we're going that low. ETH has been holding surprisingly strong around the 2150 area, and the 20-day SMA is acting as support right above it. Plus, the RSI is sitting pretty neutral, not screaming oversold or overbought, which usually means we've got room to move. I'm actually thinking we might see a push towards the 2200 resistance soon. My gut says this dip is just a breather before the next leg up, especially with how the London session has been kicking off. I've got a nice leverage play on right now, fingers crossed it plays out!