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 in a clear short-term downtrend with bearish momentum still dominant. Price ($1921.85) is below the 12/26/50 EMAs (1941/1954/1970) and far below the 200 EMA (2083.94), confirming weak market structure and overhead supply. MACD is deeply negative (line -12.23 vs signal -3.47; histogram -8.76), indicating accelerating downside momentum rather than a basing process. RSI at 34.85 is near oversold, but not showing evidence of a reversal; instead, the recent sharp sell candle (15:00–16:00) on very high volume suggests distribution and a breakdown toward the lower Bollinger Band (1904.57). The bounce to 1920s occurred on declining volume (0.56x average), implying weak dip-buying and increased risk of another leg down. Order book imbalance (large ask size at best ask) also hints at near-term selling pressure. Ideal stop loss for a short/exit is above the breakdown zone near $1958–$1965 (around the BB mid and EMA cluster).
Key Factors
Risk Assessment
Moderate-to-high risk due to near-oversold RSI (bounce risk) and relatively tight Bollinger bandwidth; however, trend/EMA structure is bearish and downside continuation remains probable. Key risk is a short squeeze reclaiming $1958–$1970.
Market Context
Bearish market structure: lower highs/lower lows intraday, price below 12/26/50/200 EMAs, and momentum indicators aligned to the downside; rebound attempts lack volume confirmation.