📣Ethereum's upward movement is facing resistance; consider shorting at high levels!📉

Based on Ethereum's performance yesterday evening, it was determined that the price would rebound after hitting the bottom. A recommendation was made to enter long positions around 1760-1780, successfully achieving a perfect take profit of 90-70 points! Currently, Ethereum is facing resistance at the 1850 level; consider shorting at high levels!

【Analysis of Ethereum's Price Trend on a Four-Hour Chart】

Candlestick Pattern:

Recently, the price has fluctuated between the 1800 to 1850 range, forming a consolidation pattern. There was a certain degree of rebound on May 6 and 7, but it failed to break through the previous high near the 1850 resistance level.

Technical Indicators:

MACD: The current MACD histogram shows an increase in bullish momentum, with the DIF line gradually approaching the DEA line, possibly forming a golden cross.

RSI: The RSI value is above 50, indicating that the market is in a relatively strong state but has not yet entered the overbought territory.

EMA: The short-term EMA (7) has crossed above the medium-term EMA (30), indicating a bullish short-term trend; however, the long-term EMA (120) is still below the current price, necessitating attention to pullback risks.

Trading Volume:

On May 7, trading volume decreased compared to the previous days' surge, indicating an increase in market wait-and-see sentiment. Overall, the trading volume supports the price remaining at current levels but lacks further upward momentum.

Evening Strategy for Ethereum on 5/7:

Recommendation for Ethereum: Enter short positions around 1840-1860, target points: 1820-1780-1750.

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