ETH is currently in a downtrend with oversold RSI, suggesting potential for a bounce. Recent price action shows support near $2982 and resistance near $3204.
Current Market Overview
ETH is trading at $3004, down 5.7% in 24 hours. The RSI at 29.7 indicates oversold conditions, which often precedes a price recovery.
Key Support and Resistance Levels
The strongest recent support is $2982 (local_min), while resistance sits near $3204 (local_max). Price is currently testing support levels.
Moving Average Analysis
Price is below both 20-day ($3057) and 50-day ($3116) SMAs, confirming the downtrend. A break above these could signal trend reversal.
Trading Strategy
Consider buying near support at $2980-3000 with a stop loss below $2950. Target resistance at $3200 for taking profits.
Beginner Recommendations
Advice: buy
Buy Price: 2982 USDT
Sell Price: 3204 USDT
Key metrics
| Price | 3004.2000 USDT |
| 24h Change | -5.69% |
| RSI(14) | 29.72 |
| SMA20 / SMA50 | 3056.71 / 3115.99 |
| Daily Volatility | 4.25% |
| 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.
