ETH Crypto Futures Trade Plan 2025-05-08

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Trading Rules:

The following trade plan is based on the provided market insights and adheres to the specified trading rules, including strategy, directionality, position sizing, and risk management.

Required Analysis Steps:

Technical Analysis Synthesis:

Price Position: The current price of $2,205.87 is above the SMA (20) of $1,792.15 and SMA (50) of $1,779.88, indicating a bullish trend. However, it's below the SMA (200) of $2,701.66, which may suggest a longer-term bearish influence. RSI Readings: An RSI (14) of 77.67 indicates overbought conditions, suggesting the price might be due for a pullback. Bollinger Bands: The price is above the upper Bollinger Band ($2,037.60), further indicating overbought conditions and potential for a reversal. Key Support/Resistance: Recent highs and lows suggest support around $2,000 and resistance around $2,300. Market Sentiment Integration: