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 at $2440 is deeply oversold (RSI 23.1) after a sharp -9.46% 24h selloff, which increases the probability of a short-term mean-reversion bounce. MACD remains negative but the histogram is positive (+13.49) with the MACD line above the signal (-65.99 vs -79.48), suggesting bearish momentum is fading and a potential basing process is starting. However, trend and structure are still bearish: price is below the 12/26/50/200 EMAs (2458/2524/2613/2829), indicating rallies are likely to face supply. Bollinger positioning is near the lower band (2299) with the middle band at 2500 acting as first resistance. Volume is very weak (0.15x of 20-period average), so there’s no strong capitulation/accumulation confirmation to justify a high-conviction long. Best approach is to HOLD/stand aside until either a reclaim of ~$2500–$2525 with improving volume confirms reversal, or a breakdown toward $2300 confirms continuation. Ideal stop loss for any tactical long would be ~$2290 (below the lower band/support).
Key Factors
Risk Assessment
Moderate-to-high risk due to bearish trend and elevated volatility (ATR ~$65.8). Key risks: continuation breakdown toward $2300, failed bounce at $2500–$2525, and low-volume rallies getting faded.
Market Context
Bearish broader structure with a sharp selloff into oversold conditions; potential short-term stabilization/mean reversion, but trend remains down until reclaiming $2500–$2610 zones.