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 in a strong short-term uptrend (price above EMA12/26/50 and reclaiming above the EMA200), with MACD firmly positive (line 14.86 vs signal 4.23) showing strong momentum. However, conditions look stretched and favor profit-taking/mean reversion rather than fresh long exposure. RSI(14) at 83.9 is deeply overbought, and price ($3029.95) is trading above the Bollinger upper band ($3000.61), a classic extension signal that often precedes pullbacks. Bandwidth is tight (3.36%), suggesting volatility compression followed by potential snapback; ATR (~$19) implies a normal pullback could quickly reach the mid-band/EMA cluster. Recent candles show an impulsive move from ~2950 to ~3030 with no meaningful consolidation, while volume is only normal (0.94x), reducing confidence that the breakout will sustain without a retrace. Ideal stop loss for a short is above the local swing/round-number resistance at ~$3065 (≈1.8 ATR above). Primary take-profit targets the mid-band/EMA zone near ~$2951 for a favorable risk/reward.
Key Factors
Risk Assessment
Moderate risk: trend is bullish so shorts face squeeze risk; key risk is continuation above $3030-$3050. Use a tight invalidation above ~$3065 and consider partial profit-taking near $2970/$2950.
Market Context
Bullish market structure with price above major EMAs, but currently in an overbought, volatility-compressed extension likely to mean-revert toward the $2950-$2970 support/EMA area.