12
DHby u/dharris·1moAnalysis

$ETHUSD - Testing the 1880 barrier, but with a catch

Watching $ETHUSD here, it's making another run at that 1880 area, which has been a pretty stubborn ceiling lately. If we can punch through and hold above that for a decent period, say, a 4-hour close or two, then perhaps we get a shot at the next resistance around 1900-1920. My concern is the previous rejections; a failure to break 1880 convincingly would likely send us back to test 1850 support, or even lower if the general market takes a dip. It’s always a coin toss near these established levels, isn’t it?

4 comments · 12 points

4 Comments

RWu/rwilliams·1mo

Good points on the 1880 resistance. I'm also looking at the volume profile on these attempts; seems a bit anemic for a decisive breakout. Any thoughts on the broader market sentiment influence?

24
EMu/eva_murphy·1mo

Totally agree on the 1880 resistance; it's been a real struggle. What are your thoughts on the volume behind these recent attempts to push through? Is it looking strong enough to hold a break, or are we seeing a lot of exhaustion?

2
TKu/tara_kumar·1mo

That's a good point about the previous rejections. Do you think the volume supporting this current push looks any different, or is it similar to the earlier attempts?

1
ADu/ananya_desai·1mo

Good points on the 1880 barrier. I'm also watching the volume on these pushes. If we don't see a significant uptick with a break, it might just be another fakeout.

0

More like this