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 high-conviction bearish continuation setup. Momentum is weak: RSI(14) at 37.54 is not yet oversold but firmly in bearish territory, leaving room for further downside. MACD is negative (line -3.49 vs signal 0.46) with a deeply negative histogram (-3.94), confirming accelerating downside momentum rather than a reversal. Price ($2894.15) is trading below all key EMAs (12/26/50/200), indicating a broad downtrend across short-to-long timeframes and overhead resistance stacked from ~$2934 to ~$2968. Bollinger Bands show price below the lower band (~$2905.95), and the last two hourly candles broke down sharply (22:00–23:00) on elevated volume (2.13x average), suggesting distribution and a breakdown attempt rather than a low-volume wick. With ATR ~$18, near-term support is likely around $2880 then $2860; a retest of the breakdown zone near $2935–$2945 is the logical invalidation. Ideal stop loss for a short is ~$2950 (above the EMA cluster/failed rebound zone).
Key Factors
Risk Assessment
Moderate-to-high risk: price is slightly below the lower Bollinger Band, so a short-term mean-reversion bounce is possible; however, trend and momentum remain bearish. Key risk is a sharp squeeze back above $2935–$2950 on continued high volume.
Market Context
Bearish trend with a recent impulsive drop from the $2950–$2960 area into the $2890s; resistance is concentrated at $2935–$2968 (EMA cluster and prior intraday highs), while support is forming near $2880 then $2860.