ETH is currently in a downtrend with oversold RSI, suggesting potential for a bounce. Recent price action shows strong resistance near $3100 and support forming around $2800.
Current Market Position
Price at $2802 is below both 20-day and 50-day moving averages, indicating bearish momentum. The RSI at 41 shows ETH is approaching oversold territory.
Support and Resistance Levels
Recent local lows around $2813 provide support, while resistance sits near $3100 based on recent failed attempts to break higher.
Trading Strategy
Consider buying near support levels for potential bounce plays, with clear exit targets at resistance. Always use stop-loss orders to manage risk.
Risk Management
High volatility requires careful position sizing. Never invest more than you can afford to lose, and consider dollar-cost averaging for long-term positions.
Beginner Recommendations
Advice: buy
Buy Price: 2813 USDT
Sell Price: 3100 USDT
Key metrics
| Price | 2802.7900 USDT |
| 24h Change | -7.81% |
| RSI(14) | 41.64 |
| SMA20 / SMA50 | 2877.42 / 2963.93 |
| Daily Volatility | 4.62% |
| 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.
