🚀 $ETH Technical Analysis June 06, 2025: PRICE STANDS AT $2,429.60 WITH STRONG BEARISH MOMENTUM ⚠️
📊 Market Insight
• Current Price: 2,429.60 USDT
• Moving Averages (MAs) indicate a bearish trend.
• Volume has decreased, suggesting lower trading activity compared to recent levels.
• MACD shows a bearish signal.
• RSI values are in oversold territory.
📊 Important Levels to Watch
🔼 Resistance Levels:
2,475.98
2,540.95 (MA(25))
2,577.22 (MA(99))
🔽 Support Levels:
2,381.49
2,350.00
2,300.00
💡 TRADE PLANS:
🐂 Bullish Trade Setup: Breakout above $2,475.98
☑️ Entry Point: $2,480.00 (enter if price breaks above 2,475.98 with bullish momentum confirmation)
🎯 Price Target:
TP1: $2,540.95
TP2: $2,577.22
🛑 Stop Loss: $2,465.00 (below the resistance to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 2,475.98, an increase in volume, RSI(6) rising above 50, and a MACD bullish crossover with DIF moving above DEA.
🐻 Bearish Trade Setup: Breakdown below $2,381.49
☑️ Entry Point: $2,375.00 (enter if price breaks below 2,381.49 with bearish momentum confirmation)
🎯 Price Target:
TP1: $2,350.00
TP2: $2,300.00
🛑 Stop Loss (SL): $2,390.00 (above the current support)
⚠️ Confirmation: Watch for a strong bearish candle close below 2,381.49, sustained high volume, RSI(6) falling below 30 (deeper into oversold), and the MACD showing a continued bearish trend with DIF dropping further below DEA.
📌 Suggestion to Open Positions Today:
The RSI in oversold territory (RSI(6) at 32.29 and RSI(12) at 31.06) suggests a potential short-term bounce, but the overall trend remains strongly bearish, as confirmed by the moving averages and MACD. Traders should exercise caution, waiting for a clear breakout above $2,475.98 for a bullish setup or a breakdown below $2,381.49 for a bearish move. Given the low volume and oversold RSI, a reversal could be on the horizon. Use tight stop losses to manage risk effectively in this volatile environment.
