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 price at $2780.85 trading below all key EMAs (12/26/50/200), confirming sustained bearish momentum. The MACD line is negative and below its signal with a widening negative histogram (-6.13), indicating downside momentum is still building rather than waning. RSI at 43.81 is neutral-bearish, leaving room for further downside before oversold conditions provide strong bounce risk. Price is sitting just above the lower Bollinger Band ($2759.22) after a sharp intraday rejection from near $3000, suggesting a volatility expansion to the downside. The heavy selloff candle from 17:00 with very high volume followed by continued selling and a strong ask wall at $2780.9 (large size vs. thin bid) points to persistent supply and weak immediate demand. ATR at $45.71 implies room for another 1–2 ATRs lower in a continuation move. Given the bearish trend, momentum, and order book imbalance, the risk of further drawdown is elevated; rallies toward $2860–2900 are likely to face strong resistance, favoring a SELL/short bias with tight risk management.
Key Factors
Risk Assessment
Risk is elevated with expanding volatility and high volume on the downside, increasing the chance of sharp continuation moves. Key risks to a short/SELL stance are a sudden risk-on reversal led by BTC or a short squeeze from the lower Bollinger Band area. A decisive reclaim of the $2860–2900 zone and a MACD cross back toward positive would weaken the bearish thesis and warrant reassessment.
Market Context
Overall structure is short-term bearish within a broader corrective phase below the 200 EMA at $3010.3. The recent spike toward $3000 followed by a high-volume reversal suggests a failed breakout and potential shift to a distribution phase. ETH is underperforming its recent highs and is likely tracking a risk-off tone in the wider crypto market, with rallies being sold and support levels being tested rather than defended aggressively.