$ETHFI USDT CONTINUES BEARISH SLIDE, BREAKING LOWER BOLLINGER BAND
Short Trade Signal
The price action for $ETHFI USDT shows a clear bearish momentum on the given timeframe, with the price currently trading at 1.1322 and having broken below the lower Bollinger Band (DN: 1.1392). This signals strong selling pressure and a potential continuation of the downtrend. The candle body closing outside the lower band indicates extreme deviation from the 20-period moving average and often precedes a further move down or a brief retest.
Trade Setup:
• Short Entry: 1.1320 - 1.1400 (Entry on break of current low or retest of the lower Bollinger Band)
• TP1 (Target 1): 1.1100 (Psychological support and recent swing low area)
• TP2 (Target 2): 1.0900 (Next strong support level)
• SL (Stop Loss): 1.1600 (Just above the middle Bollinger Band/recent consolidation high)
Short Outlook of Market:
The market for $ETHFIUSDT is currently dominated by sellers, evidenced by the \bm{-22.66\%}, \bm{-39.17\%} (7 Days), and \bm{-21.67\%} (30 Days) price changes. The break below the lower Bollinger Band confirms a high-volatility downtrend. A short-term bounce for a retest is possible, but the overall structure remains heavily bearish. Traders should look for confirmation of the breakdown or a failed attempt to re-enter the Bollinger Bands as a shorting opportunity.