Technical analysis by CryptoAle992 about Symbol ETH on 5/31/2025

1. Main TrendCurrently, the short-term trend is bearish:The price is below both the 50 and 200-period moving averages.The recent movement shows a clear breakdown below previous support levels.2. Key LevelsMajor support: 2,473 (evident from recent lows and corresponding to the lower limit of the Bollinger Bands).Key resistance:2,549/2,550 (coinciding with the 50-period MA and the middle BB band).2,589/2,614 (200-period MA and previous base of consolidation).Breakdown: There was a clear breakdown below 2,550.Breakout: Watch for break above 2,589/2,614 for a short-term reversal.3. Technical IndicatorsRSI: 38.83, in slight oversold territory, suggesting the selling may be slowing but with no strong bullish divergence yet.MACD: Still negative and below zero, but the distance between the lines is narrowing—potential early sign of weakening bearish momentum.Bollinger Bands: Price currently at or slightly below the lower band, indicating a possible technical bounce.4. Risk / OpportunitySuggested trading plan:Following a sell-off and with RSI in the lower range, there is a possibility for a technical rebound (mean reversion), but the overall setup is still fragile.Trading setup:Asset: ETHUSDTPERPDirection: LONG (attempting a technical bounce, a risky countertrend trade)Entry: 2,520 (current price/just below 2,525)Stop-loss: 2,473 (below the recent low, validated by the lower Bollinger Band)Take-profit:Level 1: 2,550 (test of resistance/mid BB band)Level 2: 2,589 (area near the 50-period MA and previous support now turned resistance)Confidence: LowAdditional notes:This is a contrarian trade; the main trend is still bearish.Avoid heavy exposure; consider small size or wait for bullish confirmation above 2,550/2,589 for a safer long.No strong pattern detected, only technical oversold conditions on the hourly indicators.If you prefer a trend-following setup:Short on a pullback between 2,550 and 2,589 with a stop above 2,614 and targets at 2,473/2,450.Summary: Short-term LONG setup for a potential bounce, but with elevated risk. Main trend remains bearish: be cautious and use strict risk management!