$ETH
🚨quick #furures analysis 🚨
$ETH /USDT Futures
📉 Trend Direction:
Strong Downtrend. The price is significantly below the Moving Averages.
🔽 Suggested Entry Price:
A short entry might be suitable on a minor retracement to resistance, around 1480 - 1500👈 USDT.
🎯 Targets:
🌟Target 1: 1470 USDT
🌟Target 2: 1450 USDT
🌟Target 3: 1430 USDT
🛑 Stop-Loss:
Above the entry zone and near resistance, around 🫸1525 USDT.
⚡MA (Moving Averages): Price is clearly below the 7, 99, and 200 MAs, confirming the strong downtrend. Sell on bounces. 📉
⚡ MACD: Indicator is negative and below its signal line, showing strong bearish momentum continues. Stay short. 🐻
⚡ Volume: High volume during the drop confirms strong selling pressure. The trend is likely to continue. 📊🔴
⚡ RSI (Relative Strength Index): Extremely oversold (4.39). Suggests potential for a bounce but confirms current intense selling. 🥶⚠️
📝 NOTE:
The $ETH USDT chart indicates a strong bearish trend 📉.
The price is significantly below the key Moving Averages (7, 99, 200). The MACD confirms strong negative momentum 🐻 as it's below the signal line and negative. High volume accompanying the recent drop validates the selling pressure 📊🔴.
However, both the RSI (4.39) and Stochastic (K=17.64) are extremely oversold 🥶👇. This signals intense selling pressure but also warns that the asset is potentially due for a short-term bounce or consolidation soon ⚠️😬.
👑TIP: Aligning with the dominant trend suggests looking for short (sell) opportunities, possibly on a pullback towards resistance (like the 1480-1500 zone). Targets are set lower, with a stop-loss placed above the entry and recent resistance. Caution is advised due to the oversold conditions, which could lead to sharp reversals.