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 clear short-term bearish structure with price ($2918.95) trading below all key EMAs (12/26/50/200), confirming sustained downside momentum and overhead supply. The 24h drop (-5.16%) combined with a high volume spike (4.87x average) suggests distribution and capitulation-like selling pressure rather than a quiet pullback. RSI at 40.71 is weak and not yet oversold, leaving room for continuation lower. While MACD histogram has turned slightly positive (2.82) with the MACD line above the signal (less negative), this reads more like early bearish momentum loss than a confirmed reversal—especially as price is pressing the lower Bollinger Band (lower $2925.18) and has closed below it, indicating downside expansion risk. Immediate resistance is the BB mid/EMA12 zone (~$2970–$2962), with stronger resistance near $3000 (EMA26/BB upper). Given bearish trend alignment and heavy sell volume, the higher-probability trade is to sell/close longs and target the next support zone. Ideal stop loss for a short is above $3005 to invalidate the breakdown.
Key Factors
Risk Assessment
Moderate-to-high risk due to elevated volatility and potential mean-reversion bounce after a sharp -5% day; however, trend/EMA alignment favors downside. Key risk is a short squeeze reclaiming $2970–$3000 on strong bid support.
Market Context
Bearish market structure: lower highs/lower lows intraday, heavy sell-side volume into a breakdown, and price trading below short-, mid-, and long-term moving averages.