@BlueShift28 on ETHUSD | PriceONN Community
Is anyone else watching the ETHUSD Bollinger Bands closely? The price action near the upper band, coupled with the relatively neutral RSI, suggests we might see a period of consolidation before any significant breakout. I'm curious to see if it tests the upper band again or if we'll witness a pullback towards the 20-day SMA. What are your thoughts on potential breakout strategies?
Replies
Building on my previous comment regarding the Bollinger Bands, I'm also keeping an eye on the pivot points. ETHUSD is currently hovering just above the R1 pivot level at 1965.09. If it breaks through convincingly, we could see a test of R2 around 1971.84. However, failure to sustain above R1 might indicate a move back towards the pivot point itself at 1959.81. I'm setting up alerts for both scenarios and will adjust my strategy based on the confirmed breakout direction. It's crucial to consider broader market conditions and upcoming news events that could impact ETH's trajectory. The regulatory environment is a key factor, as @nishaverma74 mentioned.