Alright, here’s what I’m seeing on ETH…
Big Picture: We’re sitting around $2,056 on the weekly, and honestly the trend isn’t doing us any favors. TradingView’s rating has it as a “Sell” overall, and the moving averages are screaming “Strong Sell”. price is trading below pretty much every major EMA out there (10, 20, 50, 100, 200). That’s not exactly a bullish setup.
The Good News: Momentum might be getting washed out here.
RSI is sitting at 36.5, not quite oversold territory yet, but getting close.
Stochastics are actually in the teens (17ish), which is oversold. So we could be due for a relief bounce soon, especially since the oscillators as a whole are reading “Neutral” rather than confirming the bearish trend.
The Bad News: That MACD is ugly. At -378 and sitting below the signal line, there’s no bullish momentum at all. The Awesome Oscillator is deep negative too (-1,138), so buying pressure just isn’t there on this timeframe.
Levels to Watch: You’re basically hugging the 10-week SMA around $2,043 right now. If that gives way, not much support until lower. On the upside, you’ve got the 10-week EMA up at $2,184 that needs to reclaim that first before thinking about anything higher.
Bottom Line: Weekly trend is down, but momentum is getting stretched. Not a great spot to be throwing size in long, but if you’re patient, we might get a cleaner entry if it washes out a bit more or shows some actual reversal candles. Right now it’s just grinding sideways in no-man’s land.