ETH is currently oversold with RSI below 32, suggesting potential for a bounce. Recent price drop of 10% creates buying opportunities near support levels.
Current Market Situation
ETH is trading at $3,178.75, down 10% in 24 hours. The RSI of 31 indicates oversold conditions, which often precedes price rebounds.
Support and Resistance Levels
Recent local lows around $3,171 provide strong support. Resistance sits near $3,541 based on recent highs. The price is below both 20-day and 50-day moving averages, showing short-term weakness.
Trading Strategy
Consider buying near recent support at $3,175 and selling when price approaches resistance at $3,540. Always use stop-loss orders to manage risk.
Risk Management
High volatility means high risk. Only invest what you can afford to lose. Current high trading volume suggests strong market interest but also potential for sharp moves.
Beginner Recommendations
Advice: buy
Buy Price: 3175 USDT
Sell Price: 3540 USDT
Key metrics
| Price | 3178.7500 USDT |
| 24h Change | -10.06% |
| RSI(14) | 31.49 |
| SMA20 / SMA50 | 3274.33 / 3391.36 |
| Daily Volatility | 3.68% |
| Sentiment | Bullish |
| Risk level | High |
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.
