Cryptocurrency Scholar: On May 14th, Ethereum broke through key resistance, and expectations of a surge are coming! Latest market analysis reference
Current price of Ethereum is 2690, and it is currently 4 AM Beijing time. While writing about Ethereum, the price is rising. Before this article was published, the short position at 2620 was liquidated, and the upward trend continues. Bullish traders can pay attention to the golden ratio 0.5 key resistance level at 2745. If it does not break, profits can be taken. Short positions are being tested; this is a critical resistance level for reference.
The daily K-line reached a maximum of 2739 and a minimum of 2555. The EMA trend indicator is opening upwards, entering an upward alternating expansion mode. The MACD continues to increase in volume, with the DIF and DEA breaking through the energy indicators. Combined with the K-line standing at the 0.382 retracement line, stretching towards the 0.5 resistance level at 2750, the Bollinger Bands open, and the K-line is stretching upwards around the upper band at 2635. The market has entered an extremely overbought situation. At this time, traders who have not entered should avoid joining the fray and focus on preserving their holdings.
The four-hour K-line shows a triple top breakout. The market has formed an ascending flag pattern and has broken the key resistance point at 2625. It is expected to continue stretching upwards. The EMA15 has stretched to 2505, the MACD continues to decrease in volume, and the DIF and DEA bearish momentum has been reversed. It is expected to face resistance around 2750. If it does not break, consider testing short positions; if it breaks, it will continue to rally. The upper Bollinger Band has lost support at 2625, and the K-line top divergence has completed two-thirds of its movement. This means that most of the upward stretching space has been utilized, and now it's just a matter of patiently waiting for the trend to complete.
Short-term reference: Safety first. Remember that there are no guarantees in the market, so always set stop-losses. The goal is to minimize losses and maximize gains.
For short positions, the testing points are from 2430 to 2400, with a defense at 2380, a stop-loss of 30 points, and a target of 2470 to 2500; if broken, look at 2530.
For long positions, the testing points are from 2700 to 2730, with a defense at 2755, a stop-loss of 30 points, and a target of 2650 to 2600; if broken, look at 2550.
Specific operations should rely on real-time market data. For more information, you can consult the author. There may be delays in article publication, so it is recommended for reference only; risk is borne by the reader. $ETH
