@RyanW58 on ETHUSD | PriceONN Community
This ETHUSD chart is showing a definite bullish engulfing pattern forming on the 4-hour timeframe. This suggests that the recent bearish pressure might be reversing. We've seen a lot of selling pressure, but if this pattern completes and holds, it could signal a strong upward move. Keep an eye on the price action over the next few hours.
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And if we look at the volume accompanying that bullish engulfing, it's actually picking up a bit, which adds more conviction to the signal. The market seems to be reacting to the news we've had recently; some of this choppy action might be related to the geopolitical tensions affecting oil prices. Traders are likely reallocating capital, and ETHUSD could be a beneficiary if sentiment shifts. I'm feeling good about a potential rally here, aiming for at least the 2070 level if momentum builds. Definitely watching this closely.