ETH is currently in a downtrend with oversold conditions, suggesting potential for a short-term bounce. Current price is below key moving averages, indicating bearish momentum.
Current Market Situation
ETH price is $3489, down 6.43% in 24 hours. The RSI at 33.6 shows oversold conditions, which often precedes a price bounce.
Technical Indicators
Price is below both 20-day ($3627) and 50-day ($3748) moving averages, confirming the downtrend. Recent local lows around $3588 provide support levels.
Trading Strategy
Consider buying near recent support levels for a potential bounce. Set realistic profit targets near recent resistance levels to manage risk.
Risk Management
Always use stop-loss orders below your buy price. Crypto markets are volatile, so only invest what you can afford to lose.
Beginner Recommendations
Advice: buy
Buy Price: 3588 USDT
Sell Price: 3735 USDT
Key metrics
| Price | 3489.4700 USDT |
| 24h Change | -6.43% |
| RSI(14) | 33.59 |
| SMA20 / SMA50 | 3626.87 / 3747.86 |
| Daily Volatility | 3.73% |
| Sentiment | Bearish |
| 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.
