ETH
SELLConfidence 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 clear short-term downtrend with accelerating weakness. Price ($2090) sits below the 12/26/50 EMAs (2128/2165/2211) and far below the 200 EMA (2468), confirming bearish market structure and overhead supply. Momentum is negative: RSI 40.29 is not oversold, leaving room for further downside before a mean-reversion setup becomes attractive. MACD remains below zero with the line under the signal (histogram -2.17), indicating bearish continuation rather than a reversal. Bollinger Bands show price pressing the lower band (2064) after a -8.47% daily move—consistent with trend-following selling pressure; however, bandwidth is only ~8%, suggesting the move could extend if volatility expands. Volume is notably weak (0.28x of 20-period average), which reduces confidence in a durable bounce and favors selling rallies. Key support is 2065 then 2000; resistance is 2150–2165 (BB mid/EMA26). Ideal stop loss for a short is above 2165 (EMA26/near-term pivot) to avoid whipsaws.
Key Factors
Risk Assessment
Moderate-to-high risk due to recent sharp selloff (-8.47%) and proximity to the lower Bollinger Band (bounce risk). Key risks: short-covering rally above 2150–2165, volatility expansion (ATR ~$53.6) causing whipsaws, and liquidity shifts.
Market Context
Bearish market structure: lower highs/lower lows intraday, price trading below major moving averages with momentum still negative; support zone 2065 then 2000, resistance 2150–2165 and 2210.