Analyze Ethereum
The Ethereum price shows strong strength, rebounding after falling below 2200 USD and holding the key price range. It is in the macro range of 2200 - 3000 USD and is expected to continue its upward momentum.
On May 11, the trading volume of ETH reached 96.77 billion USD, with the price rising to 2513.57 USD. The high trading volume provides strong support for the price rebound, reducing the risk of short-term pullbacks.
Past data shows that after reclaiming this range, Ethereum often rises. The recovery of the 2200 USD support level proves its resilience. If it remains above this level, it may attempt to challenge 2700 USD or even 3000 USD.
In terms of technical indicators, while the MACD has not yet completed a bullish crossover, the bearish momentum has clearly weakened.
Currently, attention should be paid to the consolidation situation around 2500 - 2600 USD. If Ethereum stabilizes above 2500 USD, it is expected to challenge 3000 USD; if trading volume continues to support, the 2700 USD resistance level will also face a test soon.
Additionally, among the liquidation amount of 37.17 million USD on May 11, Ethereum short liquidations accounted for 27.63 million USD. The large number of failed short bets triggered a short squeeze, further pushing the price up rapidly.
#ETH
The Ethereum price shows strong strength, rebounding after falling below 2200 USD and holding the key price range. It is in the macro range of 2200 - 3000 USD and is expected to continue its upward momentum.
On May 11, the trading volume of ETH reached 96.77 billion USD, with the price rising to 2513.57 USD. The high trading volume provides strong support for the price rebound, reducing the risk of short-term pullbacks.
Past data shows that after reclaiming this range, Ethereum often rises. The recovery of the 2200 USD support level proves its resilience. If it remains above this level, it may attempt to challenge 2700 USD or even 3000 USD.
In terms of technical indicators, while the MACD has not yet completed a bullish crossover, the bearish momentum has clearly weakened.
Currently, attention should be paid to the consolidation situation around 2500 - 2600 USD. If Ethereum stabilizes above 2500 USD, it is expected to challenge 3000 USD; if trading volume continues to support, the 2700 USD resistance level will also face a test soon.
Additionally, among the liquidation amount of 37.17 million USD on May 11, Ethereum short liquidations accounted for 27.63 million USD. The large number of failed short bets triggered a short squeeze, further pushing the price up rapidly.
#ETH
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ETH
2,478.23
-3.33%
