$ETH USDT – Long Signal
Timeframe Overview
Daily: Market is still under bearish pressure, with recent candles closing below key EMAs. Momentum remains weak but oversold conditions are beginning to form.
4H: Strong bearish move recently pushed price below EMA30 and EMA100, indicating selling dominance. However, current candles show early signs of a potential reversal attempt.
1H: Price has bounced from $3,045 support and is now forming a recovery candle. EMAs remain above price, but RSI and MACD suggest a possible short-term relief move.
Key Indicators
RSI (6): 24.19 – Deep oversold zone, suggesting buyers may attempt a bounce.
MACD: Histogram weakening on the bearish side, showing early reduction in selling momentum.
EMA30 & EMA100: Price still below both, but a reclaim could trigger a stronger upside recovery.
Trade Setup – Long Position
Entry Price: $3,085 – $3,100
Current Price: $3,092.87
Targets:
TP1: $3,145
TP2: $3,190
TP3: $3,235
Stop-Loss (SL): $3,030
Comment
ETH is showing a heavy dip followed by a sharp bounce from support. Oversold RSI and slowing bearish momentum on MACD signal a potential short-term recovery move. A long entry near the current price is favorable if price continues to hold above $3,050.