Crypto Scholar: On May 21, Ethereum's market reached a high synchronization with Vitalik's wallet transfer time? Latest market analysis reference
Ethereum's current price is 2490, it is now 1:30 AM Beijing time, the low of 2380 has not arrived as expected. Originally, the market trend was expected to hit the EMA15 trend support point at 2380, but the daily low formed a support at 2460 and did not drop further. Therefore, consider trying a long position at this level, the target does not need to be too far, around 2550 is sufficient for profit-taking, and the stop loss should be set around 2430. If it goes wrong, it's okay; the larger trend is bullish. What we need to do is continuously try long positions at support levels, aiming for small losses and big gains, as long as the overall profit and loss ratio is positive.
Currently, the daily candlestick has a high of 2590 and a low of 2460. The daily line shows a contraction at high levels, facing resistance at 2600. The EMA15 trend support line has reached 2385. The overall trend indicator still shows an upward alternating expansion trend. It will take a few more days to end this alternating expansion trend. The MACD has a top divergence with decreasing volume, and the DIF and DEA are forming a death cross trend. At this time, there is a high probability that the main force will quickly pull up and offload. Be cautious and prepared. The upper Bollinger Band should pay attention to 2935, and the middle band should focus on 2265.
The four-hour candlestick has faced resistance at 2600 and has retraced to consolidate within the trend indicators. It is currently near the intersection point of EMA15 and 30 at around 2490. The second support level below is 2450. If it breaks below 2450, short positions may consider temporarily exiting and waiting for the next opportunity. The MACD has continuous decreasing volume, and the DIF and DEA have not crossed above the zero axis to reach high levels. Additionally, the Bollinger Bands do not show an upward opening in the short term, with the upper band reaching 2580 and the lower band focusing on 2380. It is not ruled out that the market may behave like the extreme consolidation at the end of April. Therefore, those who are in a position should be prepared for a protracted battle. Those who are not in a position may consider short-term swing trading for back-and-forth gains.
Short-term reference:
For long positions, test the entry point from 2380 to 2350, with a defense at 2320, stop loss 30 points, target looking at 2450 to 2500, and break point looking at 2550 to 2600.
For short positions, test the entry point from 2580 to 2600, with a defense at 2630 for shorts, stop loss 30 points, target looking at 2530 to 2500, and break point looking at 2470 to 2450.
Specific operations should be based on live market data. For more detailed information, you can consult the author. There may be a delay in article publication, so it is suggested for reference only, and risk is borne by the reader. $ETH