@zshehu463 on ETHUSD | PriceONN Community
ETHUSD appears to be in a consolidation phase, trading within the Bollinger Bands around the 1857 mark. The 20-SMA is below the 50-SMA but not by much, suggesting a lack of strong directional momentum. RSI at 54.3 confirms this neutrality. I'm looking for a decisive break above the upper Bollinger Band at 1863.55 or below the lower band at 1807.01 before considering any swing positions. Volume will be key to confirm any breakout.
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The overall crypto market sentiment remains a bit subdued which adds to my cautious outlook for ETHUSD in the short term. Patience is definitely key here.
Update: The current price is hovering just below the 50-SMA at 1866.62, which could act as immediate resistance. A clean break and hold above this level coupled with a move past the R1 pivot at 1862 would strengthen a bullish case for a potential swing long. Conversely, failing to hold the 20-SMA around 1835 could signal a move towards S1. Still waiting for clear confirmation.