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 trading below all key moving averages (EMA12/26/50/200), confirming a bearish market structure and making rallies likely to be sold. Momentum is also negative: RSI(14) at 36.99 signals weak demand (not yet deeply oversold), while MACD is decisively bearish (line -3.64 below signal -0.62 with a negative histogram -3.02), suggesting downside momentum is still building rather than stabilizing. Price has slipped under the Bollinger lower band ($2922.04) to $2919.55, indicating a volatility expansion to the downside; however bandwidth is tight (1.28%), so this move could be the start of a larger breakdown. The 08:00 candle shows a sharp sell-off on very high volume, but follow-through volume is now below average (0.46x), implying weak dip-buying rather than strong capitulation reversal. Order book is ask-heavy (308 vs 53), reinforcing near-term sell pressure. Ideal stop loss for a short: $2942 (above EMA12/26 zone).
Key Factors
Risk Assessment
Moderate risk: RSI is near oversold and a mean-reversion bounce is possible; tight Bollinger bandwidth can cause whipsaws. Key risk is a fast squeeze back above $2940-$2950 on renewed volume.
Market Context
Short-term downtrend with weakening momentum and a downside volatility expansion; resistance stacked at $2936-$2973 (EMA cluster), with support near $2912 then $2890.