-1.45% for Energy Transfer stock as downside momentum tests $18.71 support

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Energy Transfer slides 1.45% today

Highlights

ET/USD faces short- and medium-term selling pressure, trading beneath key moving averages but holding long-term support.
Momentum indicators signal a bearish environment with sellers dominating, while oscillators reveal oversold conditions that may trigger a rebound.
Price is likely to move sideways between $18.71 and $19.41 over 2–3 days, with a 78% probability of downside.

Weak momentum and oversold signals as sellers dominate

The price is trading below both the MA-20 ($19.29) and MA-50 ($19.41) on the hourly chart, while remaining above the daily MA-200 ($17.94). The Ichimoku Kijun at $19.35 serves as immediate resistance. MACD and ADX both register ‘Sell’ signals, indicating weak momentum, while RSI at 33.87 and CCI point to oversold conditions. Stoch RSI gives a ‘Strong Buy’ signal, reflecting the potential for a technical rebound. BBP is negative, showing sellers dominate intraday momentum, and the Awesome Oscillator is neutral.

Sideways trade likely as breakout risks remain subdued

Over the next 2–3 trading days, price action is expected within a range of $18.71 to $19.41, reflecting a typical volatility band relative to current levels. The probability of a move higher is low at 22%, while the likelihood of further downside stands at 78%. Baseline expectations are for continued sideways trading within this band. A bullish scenario would require a sustained break above resistance at $19.35, while subduing support at $18.71 would increase the risk of further declines.

Viktoras Karapetjanc, expert at Traders Union, notes that Energy Transfer LP is showing short-term weakness but remains structurally supported in the long run. He believes that bearish momentum is likely to dominate, with technical signals pointing to limited upside and continued sideways movement. Macro and sentiment drivers are quiet, offering little to offset the prevailing negative tone. He sees $18.71 as the key support and $19.41 as resistance in the coming days. "Bulls need to reclaim $19.35 for any real momentum, but until then, I’m moderately constructive on the current support zone holding up."

Earlier, analysts noted that Energy Transfer's technical outlook had shifted to a more cautious stance, highlighting persistent seller dominance and downside risk. The latest action confirms this bearish bias, with momentum indicators remaining negative and $18.71 emerging as a critical support level traders should monitor for signs of further weakness.

Source of Data: ET Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.