Crypto Circle Academician: Ethereum's share was seized on May 23! Hopes for a rebound are shattered? A short-term adjustment window may be approaching! Latest market analysis reference
Ethereum's current price is 2640, it is now 1 AM Beijing time. In the short term, Ethereum has reached the double top resistance level, I choose to short above 2660, the reason is simple: there is demand, there are indicators, there is a pattern. Since all indicators are showing bearish signals, do not be influenced by external factors in the market; just execute according to the trading plan within the system. If you have planned your trades before the market opens, as long as you defend well and set your stop-loss, that’s enough. Safety always comes first.
The daily candlestick's highest was 2693, and the lowest was 2543. The V-shaped transition of the daily candlestick has reached a critical point. Many people in the market believe that Ethereum will need to compensate; where is the momentum for the rebound? Bitcoin has taken most of the market share, leading to a decreasing share of Ethereum, which is one of the key reasons why this wave of Bitcoin's rise cannot lift Ethereum. The EMA trend indicator is continuously expanding upwards, the EMA15 trend support has already reached 2440, and it is expected to intersect with the candlestick around 2490. The MACD top divergence shows a decrease in volume, and the DIF and DEA could cross at any time. Currently, it has been pulled back, and the upper pressure level of the Bollinger Band has reached around the 3000 mark, with the middle track focusing on 2345.
The four-hour candlestick has reached the top of the M pattern, forming a double top. It is necessary and reasonable to test positions at this level. The EMA trend indicator is contracting upwards, and the MACD has been continuously expanding. The four-hour candlestick is spreading around the upper pressure level of the Bollinger Band at 2670. The middle track support to watch is the 2550 candlestick pullback point; if broken, it can continue to look at the lower track support at 2440. Overall, at the current position, even if you don’t go short, it is not suitable to chase longs; consider opening long positions only after testing the support.
Short-term references:
For the northward test position: from 2450 to 2430 long, defend at 2400, stop loss at 30 points, target from 2500 to 2550, break point from 2600 to 2650.
For the southward test position: from 2670 to 2700 short, defend at 2730 short, stop loss at 30 points, target from 2630 to 2580, break point from 2550 to 2500.
Specific operations should be based on real-time market data. For more information, please consult the author. There may be a delay in the publication of the article; this is for reference only and risk is borne by you. $ETH