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$ETHUSD stuck at 1890, need a clear break
Watching $ETHUSD here. We've been bumping against that 1890 level repeatedly, almost like a magnet. It's not necessarily a bearish sign yet, more of a consolidation, but the inability to punch through decisively is telling. My take is we need a clear move past 1893. If we can close a 4-hour candle above that and find some support there, then we might see momentum for a push towards 1950. On the flip side, a sustained drop below 1840 invalidates that idea for me; it would suggest weakness and probably a retest of the low 1800s. Just my read, always got to be ready to be wrong.
1 comments · 7 points
I'm seeing a similar picture. That 1890-1893 range has been a real sticking point. Are you also watching for volume on that potential breakout, or mostly price action and candle close?