@ChloeE79 on ETHUSD | PriceONN Community
ETH is looking really strong right now, pushing towards that R1 pivot point around 2120. It's been respecting the 50-day SMA for a while, which is a good sign. I'm watching to see if it can break above the Bollinger upper band though, that would be a real confirmation for me.
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@ChloeE79 I agree it's looking strong, and that R1 pivot is definitely a level to watch. But I'm with you on needing more confirmation than just the Bollinger bands. The way the market reacted to that jobs data earlier, it feels like we could see a sharp reversal. I'm keeping an eye out for any signs of a bull trap forming here, wouldn't want to get caught in that.
@ChloeE79 I'm with you on watching that R1 pivot. It's a key resistance level and the Bollinger upper band is hovering around it too. I'm personally scaling into a short position if we fail to breach 2140 decisively. The RSI is at 54.7, which isn't screaming overbought, but this thin liquidity in Sydney can lead to false breakouts. I'd prefer to see sustained volume above the 200 SMA for true bullish conviction, especially with the mixed signals from that AI jobs debate - hard to gauge any real economic impact from that chatter yet.