ETH May: In-Depth Analysis

K-line Pattern:

Recent prices have been fluctuating within the range of 2350 to 2380, forming multiple candlesticks with long upper and lower shadows, indicating intense competition between bulls and bears.

On May 9, a long upper shadow appeared, followed by a price drop, showing significant selling pressure above.

Technical Indicators:

MACD: DIF and DEA are above the zero line, but the MACD histogram is gradually shrinking, indicating a weakening upward momentum.

RSI: RSI is hovering around 65, close to the overbought zone, but has not entered it continuously, suggesting that the market may enter a correction.

EMA: Prices are operating above EMA7, but the gap between EMA7 and EMA30, EMA120 is narrowing, indicating weakened short-term moving average support.

Trading Volume:

On May 9, trading volume significantly increased, then gradually decreased, indicating a decline in market activity.

Recent trading volume has fluctuated greatly, indicating unstable market sentiment and a lack of clear direction.#ETH