#Binancepizza

Evening market overview on May 18: Is $ETH a real breakout or a false breakout?

Ethereum has effective strong support at 2465, and is currently oscillating within the narrow range of 2465-2514, with fluctuations of nearly 50 points. Capturing 50 points in one go is already quite good for Ethereum.

ETH is still moving in a descending wedge channel, repeatedly trading around the upper and lower trend lines; 2521 is the resistance level above, and like this morning's BTC, trades should be made based on real and false breakouts. This morning, the long position on Bitcoin has already reduced by 70%, and the remaining position will continue to hold until the next target.

Once Ethereum breaks through 2524.64 and stabilizes, long positions can be entered in accordance with the trend, with a stop loss at 2500, targeting 2585 and 2610; alternatively, one can wait for Ethereum to break through and then fall below 2521.64 to enter short positions, defending at the breakout point, with a target of 2465.

If you pass by, please click to follow and like, it’s the greatest support for me, thank you! The above information is only for market analysis and not as a trading strategy; follow me so you won't lose track, I will provide you with the latest news and point analysis daily, as well as the wealth codes you want, remember to click follow and like!