$ETHUSD holding 1870-1900, wondering about breakout momentum
Been watching $ETHUSD closely the past few days, and it seems like we're consolidating pretty tightly around the 1870-1900 range. The daily candle yesterday with that long wick down to 1871.4553 then snapping back up to close around 1900 suggests decent demand at that lower boundary. My current thinking is that a sustained break and hold above 1913.1594 could open up some room to the upside, perhaps towards 1950s, but it feels like the momentum needs a real catalyst. The risk, of course, is if we fail to push through 1913 and instead roll over, especially if we get a convincing close below 1870, that would probably invalidate the current mini-consolidation to the upside and signal a test of lower levels, maybe even 1830. Just curious how others are viewing this current price action. Are you seeing similar demand around 1870 or something else brewing?
Yeah, that demand at the lower boundary is definitely interesting. I'm curious if we'll see volume pick up significantly on any breakout attempt, or if it will be more of a grind upwards.