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 clear short-term downtrend with price ($2911.85) trading below all key EMAs (12/26/50/200), confirming bearish market structure and overhead resistance stacking from ~$2960 to ~$3180. Momentum is weak: RSI 39.14 is not yet oversold, leaving room for further downside before a high-probability mean reversion. Although MACD histogram has turned slightly positive (2.33) with the MACD line (-39.1) above signal (-41.43), this reads more like a minor relief attempt within a broader bearish regime rather than a confirmed reversal (both lines remain deeply negative). Price is also pressing the lower Bollinger Band (lower ~$2923) and has broken below it to ~$2912, suggesting downside expansion rather than consolidation. The last hourly candle shows heavy distribution: a sharp drop to $2903.5 on 2.74x average volume, indicating sellers are in control. Given the strong bearish trend + high sell volume, the higher-conviction trade is to close longs / position short, targeting the next support zone below current price. Ideal stop loss for the short: $2970 (above BB mid and prior intraday pivot).
Key Factors
Risk Assessment
Moderate-to-high risk due to elevated volatility from the 24h -5.38% move; risk is a sharp short-covering bounce if price reclaims $2960-$2970. Use tight risk controls and avoid oversizing.
Market Context
Bearish market structure: lower highs/lower lows intraday, price below all major EMAs, with sellers dominating on rising volume; any bounce likely faces resistance near $2960-$3000.