Ethereum

View on May 17, 2025, in the Afternoon

From the hourly chart, the Bollinger Bands are starting to open, with the opening directed downwards, corresponding to the range of 2651-2460: the middle line is trending downwards corresponding to the price of 2555, and the current ETH is below the middle line entering a consolidation phase.

The 5-day moving average and the 10-day moving average have crossed into a death cross downwards, with the 5-day moving average closing corresponding to a price of 2487, and the 10-day moving average closing downwards corresponding to a price of 2515, indicating that the market is entering a period of consolidation with a downward trend. The support range below is within 2450-2404.

The MACD fast and slow lines have crossed into a death cross downwards, with the fast line beginning to close, and bearish volume gradually weakening as the market consolidates.

The RSI has crossed into a death cross downwards, corresponding to values of 31.5-30.2, indicating a slight decline in the market.

There is a price resistance level at 2560 above, and a support level at 2405 below. Currently, from the K-line chart, it appears to be in a consolidation phase, ranging from 2515-2450.