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 remains technically weak despite a small bounce off the intraday low. Momentum is bearish: MACD is deeply negative (line -10.43 below signal -1.71) with a large negative histogram (-8.71), indicating accelerating downside momentum rather than a basing process. Trend and structure are also bearish with price ($1934) trading below the 12/26/50 EMAs (1946/1957/1973) and far below the 200 EMA (2086), keeping rallies likely to be sold. RSI at 40.3 is not oversold, leaving room for further downside before a high-probability mean-reversion long is justified. Price action shows a sharp breakdown from ~1995 to ~1907 on heavy sell volume (notably 15:00–16:00), followed by a weaker rebound on below-average volume (0.56x), suggesting the bounce lacks strong demand. Bollinger Bands show price near the lower band (1911), but without confirmation (volume/RSI/MACD), the risk is a continuation move toward the next support zone.
Key Factors
Risk Assessment
Moderate-to-high risk due to recent volatility spike and proximity to the lower Bollinger Band (potential for sharp short-covering bounces). Key risks: reclaim of $1960–$1975 (mid-band/EMA50) invalidating the short, and sudden sentiment-driven reversal.
Market Context
Short-term market structure is bearish with a breakdown from the $1990–$2000 area and lower highs/lower lows. Current price is attempting a weak consolidation just above the $1910 support (lower Bollinger Band) after capitulation-like volume.