ETH is currently in a downtrend with oversold conditions, suggesting potential for a bounce. Recent price action shows strong resistance near $4080 and support around $3840.
Current Market Situation
ETH is trading at $3855, down 0.13% in 24 hours. The RSI at 17.5 indicates extreme oversold conditions, which often precedes a price bounce.
Key Support and Resistance Levels
The strongest recent support is around $3840-$3850, where price has bounced multiple times. Resistance sits near $4075-$4080, where previous rallies have stalled.
Moving Average Analysis
Price is below both the 20-day ($3925) and 50-day ($3953) moving averages, confirming the current downtrend. This suggests bearish momentum in the short term.
Trading Strategy
With oversold conditions and strong support nearby, this could be a good entry point for buyers. Consider buying near support and selling when price approaches resistance levels.
Beginner Recommendations
Advice: buy
Buy Price: 3842.24 USDT
Sell Price: 4075.0 USDT
Key metrics
| Price | 3855.0300 USDT |
| 24h Change | -0.12% |
| RSI(14) | 17.54 |
| SMA20 / SMA50 | 3924.78 / 3952.84 |
| Daily Volatility | 3.66% |
| 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.
