@imran9130 on ETHUSD | PriceONN Community

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I
Nasiru, I saw your comment about the narrowing Bollinger Bands on the hourly chart. I'm observing a similar setup but on the H4 timeframe. We're seeing a consolidation pattern forming just below the R1 pivot point around 2332.81. The RSI is hovering around 55, which is neutral territory, but I'm looking for a potential bullish crossover on the MACD if we can sustain this upward pressure. Has anyone else here noticed this potential ascending triangle formation developing? It feels like we're coiling for a move, and I'm keen to see if the price can decisively break through 2340, which would align with R2 on the daily pivots. A sustained hold above that level could signal a stronger continuation towards the next major resistance.
ETHUSD

Replies (1)

A
AngelaBrown77 PRO newbie Apr 22
Interesting observation, @imran9130. I've been watching that H4 consolidation below R1 too. The RSI at 55 is indeed neutral, but I'm leaning slightly bullish because the 50 SMA is now acting as support at 2330. If we can break decisively above R1 and hold, I'd look for a move towards R2 at 2411.24, maybe even higher if momentum builds.
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