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 momentum still bearish. RSI(14) at 35 is near oversold but not showing a reversal signal, and the MACD is decisively negative (line -14.93 below signal -7.58) with a negative histogram (-7.35), indicating downside momentum remains dominant. Price ($2041.85) is below the 12/26/50 EMAs (2054/2069/2072) and far below the 200 EMA (2199), confirming bearish market structure and overhead resistance. Bollinger Bands show price hovering just above the lower band (2016.78) after a sharp -4.04% move; this suggests potential for a small mean-reversion bounce, but the lack of volume confirmation (0.21x average) makes any bounce unreliable and increases breakdown risk. Key support is the 2016–2012 zone; a clean break would likely accelerate toward the psychological 2000 level. Ideal stop loss for a short is above the EMA cluster/resistance near 2075–2080 to maintain a favorable risk/reward.
Key Factors
Risk Assessment
Moderate-to-high risk: RSI near oversold can trigger sharp short-covering bounces, but trend/momentum remain bearish. Key risk is a rebound above 2075–2080 (EMA cluster) invalidating the short thesis.
Market Context
Bearish market structure with lower highs/lows intraday; price trading below short- and long-term moving averages and pressing the lower Bollinger Band support zone.