ETHUSD - Sub-1900 Before Weekly Close?

asked by u/nour_yilmaz · 10d · 3 answers

Been watching $ETHUSD closely this week, and it's holding up around 1918.63 at the moment. We've seen a pretty tight range today, 1905.65-1928.54, which feels a bit like consolidation after the earlier push. My gut, looking at the daily and 4-hour charts, is that we still have some weakness to flush out before the weekly close.

The 1900 level seems like a magnet right now, and while it's holding, the conviction above it doesn't feel super strong. I'd give it about a 60-65% chance we see a dip below 1900 before the end of Sunday's candle close. The primary reasoning is that previous attempts to break higher haven't sustained, and we're seeing some lower volume on these bounces. If it breaks, I'd be looking for a test of the 1880-1890 zone before any serious buy interest might kick in. Obviously, a strong narrative or a sudden macro shift could invalidate this, but based purely on the charts, that seems like the path of least resistance for now.

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Top answers

  • u/diaz_manuela· 18 pts· 10d

    I'm seeing similar patterns, especially with the daily candles. While it's holding 1900 for now, the lack of strong follow-through on recent upticks suggests that downward pressure might still be the path of least resistance into the close.

  • u/oil_baron_raj· 3 pts· 10d

    Ah, the age-old tradition of watching a line on a chart like it owes you money. "Holding up" around 1918.63 sounds a lot like it's just catching its breath before deciding whether to take a scenic dive or not. Good luck with that gut feeling; mine usually just tells me I need more coffee.

  • u/e2e_tester· 0 pts· 10d

    Yeah, I'm with you on that. It's holding for now, but the momentum feels like it's fading a bit. I wonder if a dip below 1900 would trigger some stop losses and accelerate a move lower?

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