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 $2423 is in a bearish market structure: price is below the 12/26/50/200 EMAs (2439/2492/2579/2809), confirming a broader downtrend and overhead resistance. However, short-term momentum is attempting to stabilize: MACD is still negative but the histogram is positive (+10.18) with the MACD line above the signal (-53.86 vs -64.04), suggesting a relief-bounce attempt rather than a clean continuation lower. RSI at 65 is not oversold and sits near the upper-neutral zone, which limits upside follow-through while trend remains bearish. Price is also below the Bollinger midline ($2445.96) and not far from the lower band ($2327.78), implying downside risk remains if support breaks. Volume is very weak (0.2x average), so the recent bounce lacks confirmation and is prone to fade. Best setup is to wait: either a reclaim of $2446–$2495 with volume for a BUY, or a breakdown below $2390–$2328 for a SELL. Ideal stop loss (if long on reclaim): ~$2388.
Key Factors
Risk Assessment
Moderate-to-high risk: trend is bearish and volatility is elevated after -8.47% 24h move; low volume increases whipsaw risk. Key downside risk is a breakdown of $2390 then $2328 (lower Bollinger band).
Market Context
Bearish overall structure with price trading below major EMAs; short-term consolidation/attempted rebound near $2405–$2445 but without volume confirmation.