ETH is currently oversold with RSI below 30, suggesting potential for a rebound. Recent price action shows support near $2980 and resistance near $3160. Current price is below both 20-day and 50-day moving averages, indicating short-term weakness.
Current Market Condition
ETH is trading at $3019.69, down 0.52% in 24 hours. The RSI at 25 indicates oversold conditions, which often precedes a price bounce.
Support and Resistance Levels
Strong support has formed around $2980-$2985 based on recent local lows. Resistance appears near $3160 from recent highs. These levels can guide entry and exit points.
Moving Average Analysis
Price is below both 20-day ($3093) and 50-day ($3087) moving averages, suggesting bearish momentum in the short term but potential for mean reversion.
Trading Strategy
Consider buying near support at $2980 with a stop loss below. Target selling near resistance at $3160. The oversold RSI supports this bounce play.
Beginner Recommendations
Advice: buy
Buy Price: 2980 USDT
Sell Price: 3160 USDT
Key metrics
| Price | 3019.6900 USDT |
| 24h Change | 0.52% |
| RSI(14) | 25.15 |
| SMA20 / SMA50 | 3093.20 / 3087.13 |
| Daily Volatility | 4.42% |
| 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.
