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 at $3115.75 remains in a bearish short-term structure. Momentum is weak: RSI(14) at 41.13 is below the neutral 50 level without showing a clear bullish divergence, suggesting sellers still control the tape. MACD is negative (line -23.29 below signal -20.64) with a negative histogram (-2.66), indicating downside momentum is still expanding rather than stabilizing. Price is also trading below key short/mid EMAs (12/26/50 at $3142/$3165/$3182), reinforcing a sell-the-rallies regime. The sharp breakdown during 06:00–07:00 (low $3090.1) on elevated volume signals distribution and a loss of support; the bounce to $3126.9 failed to reclaim $3140–$3150, keeping resistance overhead. Bollinger Bands are tight (2.98% bandwidth) with price hugging the lower band ($3106), which can lead to a bounce, but trend/EMA alignment and MACD favor continuation lower. Ideal stop loss for a short: $3166 (above EMA26/near breakdown zone).
Key Factors
Risk Assessment
Moderate risk: price is near the lower Bollinger Band and close to recent support ($3090–$3106), so a short squeeze/bounce is possible. Key risk is a reclaim of $3145–$3165 (EMA12/26) which would invalidate near-term downside.
Market Context
Short-term bearish market structure with lower highs and a recent impulsive selloff; consolidation under broken support suggests continuation risk unless $3140–$3165 is reclaimed.