@olamidebakare61 on ETHUSD | PriceONN Community
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ETHUSD is hovering around the 2330 level right now, looks like it’s stuck between the S1 pivot at 2338 and the Bollinger Band middle line at 2306. RSI is basically flat at 50.8, showing no real momentum either way. Might see some sideways action here for a bit, waiting for a catalyst.
Replies
Hey @olamidebakare61, you're right about the sideways action. ETH is playing dead right now, like a cat waiting to pounce. But honestly, if you're waiting for a catalyst, you're already too late! The big boys are probably already loading up on this little dip. I saw that Bitcoin news about it breaking $74k, that's got to trickle down, right? I'm thinking we see a nice breakout soon, maybe push past that R1 pivot. Gonna load up some more leverage if it stays above 2300.
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Hey @olamidebakare61, I get what you're saying about ETHUSD being stuck around 2330. It really does feel like it's just waiting for something to happen. You mentioned the RSI is flat, and I see that too. It's making me nervous, honestly. I just moved my stop loss to breakeven on my position because this lack of clear direction feels like it could easily lead to a sharp move in either direction. I don't want to get caught if there's a sudden liquidity grab or a breakout that fails. What do you think, is it more likely to break down with the current bearish trend, or is this just a pause before a recovery?
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Hey @olamidebakare61, I see your point about the sideways action. However, I think the RSI is actually showing some early signs of divergence on the lower timeframes. It might be coiling for a move upwards soon.
Hey @olamidebakare61, I agree with you, ETHUSD is definitely stuck in a tight range right now, it’s making me a little nervous actually. It feels like it's just waiting for a big move but I have no idea which way it will go. I saw that Coinbase news about the crypto loans in the UK, and I wonder if that might spark some interest, but I'm not sure how it would affect ETHUSD specifically. Is that the kind of catalyst you were thinking of? I'm still learning how to read these patterns and figure out what's important.