Crypto Circle Academician: The key resistance level of Ethereum at 2740 was revealed on May 28, and bears are poised to act, wiping out the bulls! Latest market analysis reference
The current price of Ethereum is 2680, and it is now 1 AM Beijing time. The short position trial was stopped out at 2570, the first resistance level. My trading principle is to hold if I’m right, and leave if I’m wrong; I do not resist positions, I acknowledge mistakes when I make them. Currently, the market does not rule out the existence of momentum breaking the previous high of 2740, and there is also a high probability of forming a strong triple top. The best approach for us is to wait until we reach the key point and continue to test positions. If we are wrong, we exit with a small loss; if we are right, we will reap good rewards.
The daily K-line has a maximum of 2685 and a minimum of 2505, just retracing to the EMA15 trend support line to start rebounding. The EMA trend indicator continues to show an upward alternating expansion trend, while the MACD volume decreases and the DIF and DEA show a downward dead cross trend, focusing on the previous high. If it breaks, there is a high probability of forming a golden cross; if it does not break, the bearish trend continues. The Bollinger Bands have tightened, with the upper pressure level reaching 2740 and the lower support level at 2320. The daily line has a high probability of continuing to move within a range.
The four-hour K-line is currently hovering at the top of the range, indicating there is strong resistance above. The MACD continues to expand in volume, and the DIF and DEA have not broken the energy indicators. The K-line is expanding upwards around the upper Bollinger Band at 2660. The short-term market has reached an extremely overbought trend, indicating that there is a need for a pullback in Ethereum. However, there is strong support around 2520, which suggests that the market at a high level will continue to show a range-bound trend. A swing trading strategy can be adopted, with a focused approach.
Short-term reference: Safety first. Remember that market conditions are never 100% certain, so always set stop losses. Safety first; small losses with large gains are the goal.
For northern trial positions, the entry point is between 2530 and 2500, with a stop loss at 2460 and a stop loss of 30 points. The target is 2580 to 2630, with a breakout target of 2680 to 2720.
For southern trial positions, the entry point is between 2700 and 2720 short, with a stop loss at 2740 short and a stop loss of 30 points. The target is 2650 to 2600, with a breakout target of 2550 to 2520.
Specific operations should be based on real-time market data. For more detailed information, please consult the author. The article may have a delay in publication; it is recommended for reference purposes only, and risk is borne by the reader. $ETH
