🚀 $ETH Technical Analysis August 02, 2025: PRICE STANDS AT $3,484.23 WITH BEARISH MOMENTUM 📉
📊 Market Insight • Current Price: $3,484.23 USDT • Moving Averages (MAs) indicate a bearish shift with MA(7) at 3,523.36, MA(25) at 3,701.13, and MA(99) at 3,694.31, showing price below all MAs. • Volume is notable at 43.763M USDT, with a 3.63% decline suggesting reduced buying pressure. • MACD shows a bearish trend with DIF at -77.26 and DEA at -53.09, indicating strong downward momentum. • RSI values suggest an oversold zone, with RSI(6) at 19.36, indicating potential for a bounce or further decline.
📊 Important Levels to Watch 🔼 Resistance Levels: $3,523.36 $3,701.13 $3,941.00 🔽 Support Levels: $3,431.75 $3,352.57
💡 TRADE PLANS: 🐂 Bullish Trade Setup: Reversal above $3,523.36 ☑️ Entry Point: $3,530.00 (enter if price breaks above $3,523.36 with bullish momentum confirmation) 🎯 Price Target: TP1: $3,701.13 TP2: $3,941.00 🛑 Stop Loss: $3,510.00 (below the resistance to manage risk) ⚠️ Confirmation: Look for a strong bullish candle close above $3,523.36, an increase in volume, RSI(6) rising above 30, and MACD showing a bullish crossover.
🐻 Bearish Trade Setup: Breakdown below $3,431.75 ☑️ Entry Point: $3,425.00 (enter if price drops below $3,431.75 with bearish momentum confirmation) 🎯 Price Target: TP1: $3,352.57 🛑 Stop Loss: $3,440.00 (above the current support) ⚠️ Confirmation: Watch for a strong bearish candle close below $3,431.75, a decline in volume, RSI(6) dropping below 15, and the MACD confirming bearish momentum.
📌 Suggestion to Open Positions Today: The current price action reflects strong bearish momentum with a 3.63% decline and an oversold RSI(6). A breakdown below $3,431.75 could lead to further losses, while a recovery above $3,523.36 might signal a reversal. Monitor volume and RSI for potential shifts before entering positions.
