📣 The downtrend of Ethereum continues...

After a waterfall drop in the early morning, the trend has changed. I already told everyone last week that the upward momentum is weakening, and it's important to be cautious in trading, not to chase highs. Meanwhile, the short positions held by the market makers have been successfully harvested, and the current trend mainly focuses on harvesting long positions, which confirms that the layout is correct.

【Analysis of Ethereum Price Trend from the Four-Hour Chart】

Candlestick Pattern:

Recently, the price has shown obvious fluctuations at high levels, forming a large volatility range. On the daily chart, there are multiple long lower shadows, indicating strong buying power, but overall it is still in a correction phase.

Technical Indicators:

MACD: The 4-hour MACD has been running in the negative zone, with the fast and slow lines gradually approaching the zero axis, indicating that the current market is in a weak state and may continue to adjust.

RSI: The RSI value hovers around 40, not entering the oversold zone, showing that market sentiment leans towards neutrality, and may maintain a sideways trend in the short term.

EMA: The EMA7 and EMA30 moving averages show a bearish arrangement, with the price below both moving averages, indicating a weak short-term trend. The EMA120 is far from the current price, indicating that long-term support has not yet been reached.

Trading Volume:

In recent days, trading volume has increased, especially during price fluctuations, showing heightened participation from market participants. After the sharp decline, trading volume increased significantly, indicating increased selling pressure, while there may also be funds entering to buy at lower prices.

Evening Strategy for Ethereum on 5/19:

It is recommended to enter short positions around 2440-2460 for Ethereum, with target points: 2420-2380-2340. If the trend spikes again, look for 2330-2270.

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