ETH
BUYConfidence 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 $2660.35 is showing a high-probability oversold bounce setup despite the broader bearish trend. RSI(14) at 29.93 is oversold, and price is trading below all key EMAs (12/26/50/200), confirming bearish structure but also indicating stretched downside. MACD remains negative (line -39.72) yet the histogram has turned positive (+1.42) with the MACD line crossing above the signal (-41.14), suggesting downside momentum is fading and a short-term reversal/relief rally is developing. Price is also below the lower Bollinger Band (lower $2676.19), a typical mean-reversion trigger; the mid-band near $2739 is the first magnet. Recent candles show a sharp selloff into $2658.8 with no further extension yet, implying potential capitulation. Volume is near normal (0.9x), so confirmation is moderate, not strong. Given ATR $36.29, a tight invalidation is feasible: ideal stop loss ~$2618 (below the $2658 swing low by ~1 ATR). Take profit targets align with EMA12/BB mid resistance and provide >1:2 RR.
Key Factors
Risk Assessment
Moderate-high risk: prevailing trend is bearish and a bounce can fail quickly. Key risks are continuation breakdown below $2658 support and weak volume follow-through. Use strict stop loss (~$2618) and treat as a short-term mean-reversion trade.
Market Context
Bearish market structure with price below 12/26/50/200 EMAs and a -4.88% 24h drop; however, conditions are stretched/oversold and momentum indicators hint at a near-term relief rally toward nearby resistance.