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 technical setup with limited evidence of an immediate reversal. Momentum is negative: RSI(14) at 41.06 is below neutral and not yet at oversold levels that typically precede high-conviction bounces. MACD is decisively bearish (line -6.1 below signal -1.51 with a negative histogram -4.6), indicating downside momentum remains in control. Price ($2928.55) is trading below all key EMAs (12/26/50/200), confirming a bearish market structure and overhead dynamic resistance between ~$2934–$2964. The sharp sell candle at 14:00 (drop from ~2983 to ~2917) on extremely high volume suggests distribution and a breakdown from the mid-Bollinger area; subsequent recovery attempts have been muted. Current volume is very low (0.15x of 20-period average), implying weak dip-buying conviction and increasing risk of another leg down. With Bollinger lower band near $2901.9 and ATR ~$19.36, a push to the $2890–$2880 zone is plausible if $2900 fails. Ideal stop loss for a short: $2966 (above EMA200/near prior breakdown zone).
Key Factors
Risk Assessment
Moderate risk: volatility is contained (ATR ~$19) but thin current volume can cause whipsaws. Key risk is a short squeeze/reclaim above ~$2960–$2965 which would negate the bearish setup.
Market Context
Short-term trend is bearish with price consolidating below a cluster of EMAs; support sits near the lower Bollinger band (~$2902) and then ~$2880, while resistance is ~$2950–$2965 and ~$2999.