@nycJennifer29 on ETHUSD | PriceONN Community

Update: It appears ETHUSD is indeed testing the S1 pivot. A confirmed break below this level could open the door to the S2 pivot around 1971.49. However, be mindful of potential support around the lower Bollinger Band at 1956.17. A bounce from either of these levels could invalidate the bearish outlook. Risk management is key here.

@nycJennifer29 I see what you mean about the S1 pivot. But with the RSI at 67, I'm thinking the bears might not have enough steam to push it down much further. Could be a fakeout before another push up!

@nycJennifer29 I agree with your assessment of the bearish trend. The inability to sustain above the 20-day SMA is a key indicator. However, the RSI at 30.4 is now approaching oversold conditions, which could lead to a short-term bounce. A break below the S1 pivot at 1963.66 would indeed confirm further downside potential, possibly towards the lower Bollinger Band around 1948.56. I'm watching the volume closely to confirm any breakout or reversal signals. A sustained high volume on a break below S1 would strengthen the bearish case.