Ethereum is currently at $2,798, down 1% in 24 hours after a sharp drop from over $3,000. The RSI is very high at 81.6, suggesting the asset is overbought and due for a correction. The price is below the 50-day average but holding near the 20-day average. Recent history shows a strong rejection near $3,050, followed by a drop to a local low of $2,731. The market is in a corrective phase after a strong rally.
Current Market Snapshot
ETH is trading at $2,798. It recently fell sharply from above $3,000. The 24-hour change is -1%. The RSI is 81.6, which is in the ‘overbought’ zone (above 70). This often means a price pullback is likely. The current price is just above the 20-day average ($2,787) but below the 50-day average ($2,887), indicating short-term support but medium-term weakness.
What the Price Action Shows
Looking at the recent hours, ETH tried to break above $3,050 but failed. This created a strong resistance level. The price then crashed down to find support around $2,731. This is now a key level to watch. Since that low, the price has bounced back to the $2,800 area. The high volume during the drop shows many sellers were active.
Key Levels for Trading
For buyers: The recent low of $2,731 is a major support. A safer buy zone might be a bit above that, around $2,750-$2,770, in case the price tests that level again. For sellers: The recent highs near $3,040-$3,050 acted as strong resistance. A realistic take-profit or sell level would be if the price rallies back to test that area around $3,040.
Simple Strategy for Beginners
The market is correcting from an overbought state. It’s risky to buy right now at $2,798 because the RSI is so high and the trend just turned down. It’s better to wait for a deeper pullback to a stronger support level before considering a buy. If you already own ETH, a rally back towards $3,040 could be a good opportunity to take some profits, given the recent rejection there.
Beginner Recommendations
Advice: hold
Buy Price: 2750 USDT
Sell Price: 3040 USDT
Key metrics
| Price | 2798.2600 USDT |
| 24h Change | -1.00% |
| RSI(14) | 81.60 |
| SMA20 / SMA50 | 2787.34 / 2886.71 |
| Daily Volatility | 3.50% |
| Sentiment | Bearish |
| 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.
