Crypto Circle Academician: Ethereum's layout on May 24 hides secrets! Underlying currents surge behind the short-term sideways movement! Latest market analysis reference
Ethereum's current price is 2570, it is now 1:30 AM Beijing time. The content from yesterday's article that opened at 2660 for short positions has been updated in real time. Now the market has moved. Here, I want to thank everyone for their trust and support. In the end, I did not take profits at 2500, but instead chose to take profits at 2550. The reason is simple: 2550 is a short-term support point and also near this week's closing point. The market for this week has basically been completed, and the main force has returned to long and short-term support for sideways movement. This is a reasonable situation. At this position, we are consolidating to choose the direction. Before the direction is established, everyone can take a break.
The daily K-line reached a high of 2735, forming a relatively obvious double-top structure. The pullback support has not yet ended. Pay attention to the EMA15 fast line support at 2460, trend convergence support at 2380, MACD has ended the top divergence and is starting to reduce volume downward. The DIF and DEA have formed a dead cross trend. The trend indicators are bullish, but the technical indicators show a dead cross. The long and short positions are forming a tense trend around 2550, so there is a high probability of sideways movement near this position in the short term. The upper limit of the Bollinger Band is at 2980, the middle line is at 2380, and the probability of further bottoming has increased. There is no rush to enter the market; wait for the pattern confirmation to know.
The four-hour K-line high position consolidation is already quite obvious. The K-line has pulled back from 2700 to the EMA30 trend indicator at 2570 and is moving sideways. The K-line is showing a contraction state, and the EMA trend indicator is also showing contraction. The MACD has been continuously reducing volume and increasing positions. After the DIF and DEA broke below 2630, a dead cross was formed. The Bollinger Band's middle track at 2586 has been lost, and the K-line has entered a downward channel. Pay attention to the Bollinger Band's lower track support at 2460. Since the key support and pressure have been confirmed, what we need to do for now is to wait.
Short-term reference: always set a stop-loss; safety is the first priority. Small losses and big gains are the goal.
For the upward trial position: 2450 to 2410 long, defending at 2380, stop-loss 30 points, target looking at 2500 to 2550, breaking looks at 2600 to 2650.
For the downward trial position: 2670 to 2700 short, defending at 2730, stop-loss 30 points, target looking at 2630 to 2580, breaking looks at 2550 to 2500.
Specific operations depend on real-time market data. For more detailed information, you can consult the author. There may be delays in article publication; suggestions are for reference only, and risks are borne by yourself.