5-24 Ethereum Perspective:

Without discussing the news that caused the decline, just from the four-hour chart perspective, Ethereum started to enter a consolidation phase after first hitting the price of 2738. After about a week of oscillation, it broke the downward trend line and rose to 2734, forming a consolidation double top structure. Subsequently, with news, it began to decline and retest the blue trend line, creating a breakout downward trend retest structure.

The two-hour chart shows an ascending channel formation. Yesterday, it touched the upper edge of the channel and faced resistance, falling back to the lower edge. It is unclear whether it will break below the channel. There won't be much fluctuation over the weekend; it will be a consolidation phase to digest emotions through indicator adjustments, so we'll have to wait until next Monday.

Another point is that the range formed between the upper 2738 and the lower 2440 creates a consolidation box, so attention needs to be paid to the lower edge of the channel, and the support level at 2440 also needs to be monitored #ETH