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 bearish market structure with price ($2411) trading below the 12/26/50/200 EMAs (2437/2492/2578/2809), confirming a broader downtrend and overhead supply. Momentum is attempting a short-term relief bounce: MACD histogram is positive (+9.35) with the MACD line above the signal (less negative), suggesting bearish momentum is weakening. However, RSI at 62 is not oversold and sits in a zone where rallies often fade in downtrends, especially after a sharp -8.9% 24h move. Price is also below the Bollinger midline (2445) and closer to the lower band (2327), implying the bounce is not yet strong enough to reclaim mean value. Volume is notably weak (0.26x of 20-period average), which reduces conviction that buyers can sustain a reversal. Order book is ask-heavy at the top (453 vs 29 size), adding near-term overhead pressure. Best play is to wait for either a reclaim of 2445–2490 with volume (buy) or a breakdown toward 2325 (sell). Ideal stop loss for a tactical long (if taken) would be ~$2385.
Key Factors
Risk Assessment
Moderate-to-high risk: trend is bearish and volatility is elevated after a large 24h drop; weak volume increases whipsaw risk. Key downside risk is a move to the lower Bollinger band (~2327) and potential continuation if that breaks.
Market Context
Bearish broader structure with a short-term consolidation/weak bounce near 2400 support; resistance stacked at 2445 (BB mid) and 2490–2580 (EMA cluster).