Energy Transfer stock trades flat as price hovers well beneath the long-term average

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Energy Transfer down 0.85% today

Highlights

Bearish pressure dominates ET/USD as price trades below key short- and medium-term moving averages with seller momentum prevailing.
Momentum indicators including MACD, ADX, and oscillators confirm oversold conditions and reinforce downside risks over the short term.
Short-term price is expected to consolidate between $18.50 and $19.00; a break below $18.50 may trigger further declines.

Bearish momentum intensifies amid failed support and technical signals

On the technical front, ET is trading below the MA-20 ($18.90) and MA-50 ($19.00) levels on the hourly chart, with the long-term MA-200 at $17.98 on the daily timeframe serving as key support. Immediate resistance is marked by the Ichimoku Kijun level at $18.90. Selling momentum dominates, as indicated by negative MACD and a sell signal from ADX, while RSI sits at 38.05 alongside oversold readings from Stoch RSI and CCI. Bearish momentum is further confirmed by BBP and the Awesome Oscillator, highlighting clear seller dominance and continued downside pressure.

Downside risk elevated as consolidation and limited rebound scenarios unfold

Over the next 2 trading days, ET is expected to trade within a $18.50.00 volatility band relative to current levels. The probability of further downside is very high, while an upside reversal appears unlikely in the short term. The baseline scenario points to consolidation between $18.50 and $19.00. Should ET close below $18.50, additional losses may follow, whereas a break above the $18.90 resistance could trigger limited recovery attempts.

Anton Kharitonov, expert at Traders Union, sees continued bearish momentum in Energy Transfer LP (ET) as price sits below major moving averages and technical signals favor sellers. He notes downside pressure remains strong with little sign of reversal, and the most likely scenario is range-bound trading between $18.50 and $19.00. Unless ET reclaims $18.90, the probability of further decline stays elevated. "With sellers firmly in control and no positive catalysts in sight, I remain cautious and expect the weakness to persist unless price breaks above key resistance," he states.

Earlier, analysts noted that Energy Transfer was experiencing persistent short-term bearish momentum amid generally cautious sentiment. The latest technical signals reinforce this view, highlighting that sustained downside pressure increases the risk of a potential break below $18.50, which would be a critical level for traders to monitor.

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.