Watching ETHUSD around the 1890-1900 area
Hey everyone, just tossing out some thoughts on $ETHUSD. Been looking at the charts and that 1890-1900 region is really sticking out to me. We've seen some decent back and forth there lately. It feels like it's acting as a bit of a pivot point. If we can get a sustained move above it, especially with some conviction, I'd be looking for a potential retest of those recent highs around 1950, maybe even the 2k psychological level.
On the flip side, if we fail to hold above 1890 and start to see some consistent closes below it, I'd be thinking we could quickly revisit the 1850 area, potentially even down to 1820 where there's been some prior support. The risk for this scenario, for me, would be a strong push back through 1920-1930 which would suggest the bears are losing their grip. Just my two cents, interested to hear what others are seeing.
I'm seeing similar action around that zone. The question for me is whether a move above holds, or if we see a quick retrace again. Volume will be key.