ETH is currently in a downtrend with oversold RSI, suggesting potential for a bounce. Recent price action shows support near $3850 and resistance around $4060.
Current Market Situation
ETH price is $3897, down 2.6% in 24 hours. The RSI at 38 indicates oversold conditions, which often precedes price rebounds.
Support and Resistance Levels
Recent local lows around $3850 provide strong support. Resistance appears near $4060 based on recent price rejections at this level.
Moving Average Analysis
Price is below both 20-day ($3931) and 50-day ($3992) moving averages, confirming the current downtrend but suggesting potential buying opportunity.
Trading Strategy
Consider buying near support at $3850 with a target to sell near resistance at $4060. Use stop-loss orders to manage risk.
Beginner Recommendations
Advice: buy
Buy Price: 3850.99 USDT
Sell Price: 4061.85 USDT
Key metrics
| Price | 3897.0300 USDT |
| 24h Change | -2.61% |
| RSI(14) | 38.31 |
| SMA20 / SMA50 | 3931.12 / 3992.95 |
| Daily Volatility | 4.97% |
| Sentiment | Neutral |
| Risk level | Medium |
Disclaimer: this material is for educational purposes only and does not constitute financial advice. Cryptocurrencies are highly volatile; always assess your own risk, investment horizon, and do your own research.
