Based on $ETH Ethereum (ETH/USDT) Renko chart (1-hour timeframe), here’s a short-term technical analysis and trading recommendation for futures trading:

Chart Indicators Summary:

Price: $2,532.80 (down -0.72%)

Renko Trend:

Recent red bricks indicate bearish momentum setting in after a short-term rally.

SuperTrend:

Currently red, suggesting a sell signal.

Moving Averages (Triple):

Shorter MAs are starting to turn down, indicating weakening bullish momentum.

MACD:

MACD line is above signal but converging.

Histogram has turned slightly negative.

Suggests potential beginning of bearish crossover.

Order Book:

98.25% buy orders vs. 1.75% sell — this could indicate strong buy interest but may also suggest late buyers entering the market (often near a top).

Short-Term Recommendation: SELL

Rationale:

SuperTrend has flipped bearish.

Renko showing red bricks (indicating start of a downtrend).

MACD is weakening and near a bearish crossover.

The price is pulling back after testing $2,600+ resistance.

Trade Setup for Futures (Short Position)

Entry (Sell): Around $2,535–2,540

Target (TP):

First Target: $2,480 (recent support)

Extended Target: $2,440 (next support zone)

Stop Loss (SL): $2,580 (above the SuperTrend and last swing high)

Risk/Reward: ~1:2

Caution:

If the price bounces back above $2,580 with green Renko bricks and MACD flips bullish again, this analysis becomes invalid — in that case, shift to a long bias.

dyor before your trading . it's not a financial advice