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 showing a weak, bearish structure with momentum still deteriorating. RSI(14) at 34.34 is near oversold but not yet at capitulation levels, and it has not shown a clear bullish divergence in the provided candles. MACD remains firmly bearish (line -4.33 below signal -1.14, histogram -3.19), indicating downside momentum is still dominant rather than reversing. Price ($2924.15) is trading below the 12/26/50/200 EMAs, with the EMA stack sloping bearish (12<26<50<200), reinforcing a downtrend and making rallies likely to be sold. Bollinger Bands are tight (1.28% bandwidth) and price is hugging the lower band (~$2921.9), suggesting pressure on support and risk of a volatility expansion lower. The 08:00 candle showed a sharp sell-off to $2916.8 on elevated volume, and subsequent recovery is weak with volume below the 20-period average (0.7x), implying limited dip-buying strength. Ideal stop loss for a short: $2948 (above EMA50 / recent intraday resistance).
Key Factors
Risk Assessment
Moderate risk: RSI near oversold increases short-squeeze/rebound risk, especially if $2920 holds. Key risks are a bounce back above $2940-$2950 (EMA cluster) and volatility expansion upward. Use a tight stop and avoid oversizing.
Market Context
Short-term market structure is bearish with lower highs and price acceptance below the EMA cluster; buyers are not showing strong volume response after the sell impulse, keeping downside continuation favored unless ETH reclaims $2940-$2950.