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 short-term bearish continuation setup. Price ($2911.95) is trading below all key EMAs (12/26/50/200), confirming a downtrend and overhead supply into $2928–$2967. RSI(14) at 44.95 is not oversold, leaving room for further downside without requiring a mean-reversion bounce. MACD is decisively negative (line -6.37 vs signal -0.47; histogram -5.89), indicating accelerating bearish momentum. Price action shows a sharp breakdown from the $2945–$2965 area with a high-volume sell candle at 22:00 and follow-through to a $2889.5 low, suggesting a support failure and a new lower low. Bollinger Bands are tight (2.31% bandwidth), often preceding expansion; with price hugging the lower band ($2900), the bias favors downside continuation. Volume is currently low (0.32x average), which reduces confidence in an immediate reversal; rallies may be weak and sold. Ideal stop loss for a short: $2968 (above upper band/near EMA200).
Key Factors
Risk Assessment
Moderate risk: tight Bollinger Bands can trigger sharp whipsaws and short-covering bounces; low current volume may cause choppy price action. Key risk is a reclaim of $2935–$2967 (EMA cluster/upper band) invalidating the short.
Market Context
Short-term bearish trend with lower highs/lows; price is consolidating just above the lower Bollinger Band after a breakdown, suggesting potential continuation toward lower support.