This trading analysis, with a time frame of 1 hour (1h), indicates a strong sell signal.
🔴 Trend and Recommendation $ETH
Trend: Bearish
Confidence: 70%
Recommendation: ( Sell )
🎯 Target Price and Key Levels
Target Price: $3,045.31
Key Support: $3,045.31
Resistance: $3,131.38
Detected Lateral Channel: between $3,045.31 and $3,131.38
📊 Technical Signals Detected $ETH
Key Support: The target price matches the crucial support level at $3,045.31.
Moving Averages: The exponential moving averages (EMA), EMA(20) and EMA(50), show a downward slope, confirming the direction.
Volume: A high volume was observed during the drop and a decreasing volume during the subsequent recovery, which is a classic indication of weakness in buying strength and potential continuation of the decline.
⚖️ Trade Data $ETH
Time frame: 1h
Volume: 6,130
Risk/Reward: 2.6:1
