2025.5.16 ETH
Current price is approximately 2585.
After retreating from the high of 2738, ETH found support around 2542.
The overall trend still leans towards upward.
The current price is consolidating sideways to build strength.
For long strategies
Suggestions:
1. Enter at 2580-2595, set the stop loss below 2520, and take profit reference at 2650 or 2730, with short-term breakout expectations and moving averages providing effective support.
2. Enter in the range of 2520 to 2545, set the stop loss near 2470, and take profit reference above 2650-2700.
2630-2660 is a local resistance area, once touched, consider taking profits in batches.
If ETH breaks below 2410, the short-term structure weakens, and it is no longer suitable for longs.
Additionally, recent trading volume has shrunk; if it cannot break through with increased volume, the likelihood of price fluctuations is higher.
Currently, ETH is in a consolidation phase within a bullish trend, the structure is healthy, and it can be considered for longs, but high chasing should be avoided; I am more optimistic about the second strategy as a more suitable entry point.