ETH
SELLConfidence Score
Signal Analysis
🎯 Take Profit Target
This is the primary price target for executing your trade. Place your take profit order at this level for optimal risk/reward based on current technical analysis.
Price Forecasts
Detailed Reasoning
ETH at $2901 is pressing the upper Bollinger Band ($2930) with RSI 71.8 (overbought), which typically increases mean-reversion risk, especially in a stated bearish trend. While MACD histogram is positive (+9.0) and improving (bullish momentum attempt), the MACD line remains below zero (-2.25), suggesting the bounce is corrective rather than a confirmed trend reversal. Price is also capped below the 200 EMA ($3007), a key bearish structure level, and is hovering around the 50 EMA ($2904), indicating limited upside room before heavier resistance. Recent candles show a sharp push to $2933 followed by a pullback to the $2880s, hinting at rejection near resistance. Critically, volume is extremely weak (0.12x of 20-period average), so the rally lacks participation and is vulnerable to a fade. With ATR ~$28, a move back to the mid-band ($2861) or lower band ($2793) is feasible within days, offering favorable downside risk/reward. Ideal stop loss: $2945.
Key Factors
Risk Assessment
Moderate-to-high risk: momentum can squeeze higher toward $2930-$3007 if shorts pile in, but weak volume and overbought RSI favor downside. Key risk is a breakout above $2930 with follow-through.
Market Context
Broader structure remains bearish (below 200 EMA), with a short-term rebound that looks like a corrective bounce into resistance rather than a confirmed trend reversal.