Crypto Circle Academician: Ethereum Plummets from 2600 on May 22! If it falls below this level, it will trigger a chain liquidation! Latest market analysis reference
Ethereum's current price is 2490, it's currently 2 AM Beijing time. Entered around 2450 yesterday and exited at 2550; these are practical trading details. How much did everyone gain? Congratulations to the friends who followed along, and thanks to everyone's support and newcomers. Before the publication, Ethereum was plummeting from a high point, influenced by Bitcoin, as Bitcoin surged violently. Everyone in the second market will definitely see a rebound. The trading volume has surged, which is abnormal and irrational. If Ethereum can't hold above 2600, all bullish positions will be futile.
Looking at the daily K-line, the highest point reached 2615 and the lowest point was 2455. The EMA15 trend fast line support to watch is 2400. The EMA bullish trend is expanding upwards, but it still needs some time to finish; we are currently just halfway through. The MACD top divergence has formed a death cross, with increased volume that has started to decrease, and bearish momentum is strengthening. The main force is suppressing the price, and the upper Bollinger Band pressure level has been raised to 2950, while the middle band has reached 2300. At this time, it is normal for the main force to harvest back and forth. Contract trading is advised to slow down; too close to the stop-loss can easily be swept, and too far poses too much risk and is not worth it.
The four-hour K-line fell from 2600 to below 2500 after a high, impacting the EMA60 trend support point at 2460. The possibility of continued liquidation cannot be ruled out. The lower EMA90 trend support is exactly at the 2400 level, which can be considered for testing positions. The MACD volume is decreasing. If it cannot hold above 2400, a bearish trend will form. Additionally, the current four-hour K-line has directly broken below the middle band at 2500 from the upper Bollinger Band. The lower band support to watch is 2390. The strategy is to wait for effective support confirmation before considering entering long positions. In the short term, it is mainly about observing the market and not chasing shorts, as chasing shorts may seem profitable but actually carries greater risks.
Short-term reference:
For long positions, test entry points from 2380 to 2350, with a stop-loss at 2320, a stop-loss of 30 points, and targets of 2450 to 2500. If broken, look at 2550 to 2600.
For short positions, test entry points from 2580 to 2600, with a stop-loss at 2630, a stop-loss of 30 points, and targets of 2530 to 2500. If broken, look at 2470 to 2450.
Specific operations should be based on real-time market data. For more information, you can consult the author. There may be delays in article publication, so the advice is for reference only and the risk is self-borne. $ETH
