ETH
HOLDConfidence 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 is in a strong bearish trend: price ($2374.75) is below the 12/26/50/200 EMAs (2495/2584/2669/2857), confirming a deeply bearish market structure. MACD is decisively negative (line -88.64 below signal -57.31) with a negative histogram (-31.33), indicating downside momentum is still dominant. However, RSI(14) at 2.68 is extremely oversold and statistically suggests elevated snapback risk; selling into this level risks capitulating near a local low. Price is also hovering just above the lower Bollinger Band ($2352.59), consistent with an exhaustion move. The dump from ~2630 to ~2375 occurred on very high volume (notably 17:00–18:00), but the latest hour shows low follow-through volume (0.36x of average), implying selling pressure may be fading short-term. Given conflicting signals (trend bearish, but oversold/reversion risk high), the highest-probability action is to HOLD and wait for either a relief rally into resistance or a clean breakdown below $2350 with volume confirmation. Ideal stop-loss for any existing long: ~$2290 (below the $2350 band and ~1.4 ATR).
Key Factors
Risk Assessment
High risk: volatility is elevated (ATR ~$62) after a -12.27% 24h move; downside continuation is possible if $2350 breaks with volume. Main risks are a further liquidation cascade vs. sharp oversold bounce whipsaws.
Market Context
Bearish trend and breakdown from the $2600s into the $2370s; price is trading below major moving averages with momentum still negative, but short-term conditions are stretched/oversold near lower band support.