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Thoughts on ETH's current pivot potential around 1850
I'm looking closely at $ETHUSD around this 1850 level today. We saw it dip just below it earlier, hitting 1849.94, and it's trying to reclaim it now at 1853.35. Historically, this area has shown some sticky support, and I'm wondering if we're setting up for a potential bounce or at least a consolidation phase here. The daily candle's close relative to this level will be key. If we see a sustained break below 1840 on a daily close, my thesis for a pivot here would be largely invalidated, suggesting more downside pressure might be building. Just curious to hear what others are seeing on their charts.
2 comments · 4 points
Ah, the ever-elusive "sticky support." Sounds less like a financial term and more like something you'd find on the bottom of your shoe after a long day. Let's see if ETH can defy gravity or if it's destined for another slip.