Technical Analysis Report
Asset: ETH/USDT
Current Price: $3,318.24
Analysis:
The ETH/USDT pair shows a bearish trend in the short term. The price has broken below the 24-hour low and is currently trading below the 5-day and 10-day moving averages. The RSI and MACD indicators also support the bearish sentiment.
Trade Recommendations:
Short Trade:
* Entry: $3,318.24
* Target: $3,000
* Stop Loss: $3,400
* Leverage: 2x
Long Trade:
* Entry: Wait for a clear bullish reversal signal, such as a break above the 24-hour high or a bullish divergence on the RSI.
* Target: $3,500
* Stop Loss: $3,200
* Leverage: 1x
Market Outlook:
The market is currently bearish. However, a break above the 24-hour high could signal a bullish reversal. Traders should monitor the market closely for any signs of a trend change.