📊 #ETH Day Trading Strategy – May 2, 2025

Market Overview:

Current Price: $1,823.72

24h Range: $1,816.23 – $1,867.77

Technical Indicators:

Resistance Levels: $1,861, $2,000

Support Levels: $1,700, $1,756

Chaikin Money Flow (CMF): Declining, indicating potential weakening buying pressure.

Ascending Triangle Pattern: Suggests a potential breakout towards $1,960.

As of May 2, 2025, Ethereum $ETH is trading at $1,823.72, reflecting a modest gain of 0.20% over the past 24 hours. The intraday range has been between $1,816.23 and $1,867.77

Recent Developments:

Whale Activity: Millions of ETH have been withdrawn from exchanges, indicating bullish sentiment among large holders.

ETF Flows: Ethereum ETFs saw a net inflow of $6.5 million on May 1, followed by zero net inflows on May 2, suggesting a pause in institutional interest.

Trading Plan:

Entry Point: $1,830

Stop-Loss: $1,790

Target 1: $1,860

Target 2: $1,960

$ETH Ethereum is exhibiting signs of a potential breakout from its recent consolidation phase. The ascending triangle pattern and whale accumulation support a bullish outlook. However, caution is advised due to the declining CMF and recent stagnation in ETF inflows.



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