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 (EMA12 > EMA26 > EMA50 > EMA200) with MACD positive (10.63 vs 8.24) and a rising histogram, confirming bullish momentum. However, conditions are now stretched: RSI(14) at 84.94 signals extreme overbought, and price ($3142.85) is trading above the Bollinger upper band ($3132.81) with very tight bandwidth (1.59%), a common setup for mean reversion or volatility expansion pullbacks. The last hourly candle shows a sharp impulse (high to $3158.4) on elevated volume (1.75x average), which often marks local exhaustion rather than a clean continuation entry. Order book is also ask-heavy (78.64 at ask vs 2.53 at bid), suggesting near-term overhead supply. Given the asymmetric risk of a snapback to the mid-band/EMAs versus limited near-term upside, I recommend closing longs / tactical short. Ideal stop loss for the short: $3162 (above the recent spike high + ~0.3 ATR).
Key Factors
Risk Assessment
Moderate-to-high risk: trend is bullish, so shorts are counter-trend and can be squeezed if price holds above the upper band. Key risks are continuation breakout above $3158 and volatility expansion. Manage with tight stop and partial profit-taking near supports.
Market Context
Bullish market structure with strong momentum, but currently overbought and extended above volatility bands; highest probability is a near-term mean reversion toward the mid-band/short EMAs before trend continuation.