Cryptocurrency Scholar: 5.29 Ethereum High-Level Consolidation, Long and Short Battle? Countdown to Liquidation? Latest Market Analysis Reference
Ethereum current price is 2635, it is now 1:30 AM Beijing time. The reminder point set after being swept yesterday is 2720. Since it has not reached the intended testing point, we will wait for a confirmation of the pattern before considering whether to enter. With this wave of Bitcoin retracement, Ethereum cannot drop from its high, indicating that the battle between bulls and bears around 2620 is quite fierce. At this moment, before a direction emerges, waiting is the best choice. Sometimes in trading it's better to miss out than to make a mistake; after all, the essence of trading is secondary to profit.
Daily candlestick highest at 2690, lowest at 2605. The EMA15 trend indicator support has stretched to 2520. This position serves as a point of exchange between bulls and bears. As long as the bulls hold, there is room for a rebound and momentum. If they can't hold, there is a high probability of a sell-off and continued bottom exploration. The MACD top divergence trend remains unchanged; DIF and DEA are continuously expanding downwards, but the candlestick cannot go down. The volume is not keeping up, and both bulls and bears are facing a decision, with risks increasing. Additionally, the Bollinger Bands are narrowing, with the upper band reaching 2700 and the lower band focusing on 2400. The bearish trend is gradually becoming clear; aggressive traders can chase the current price, while conservative traders should wait for confirmation of a pattern above 2700 before entering.
The four-hour candlestick is currently consolidating at the top of the EMA trend indicator, blocked at 2620. MACD's continuous volume has decreased, and DIF and DEA are contracting. The Bollinger Bands upper band has also reached the 2700 round number, with lower band support focusing on 2500. The trend formation of the short position is not very clear; the long and short indicators are relatively balanced. Many single indicators have the suspicion of inducing. To be safe, it is best to wait for a clear market pattern before entering; there is no rush for the moment.
Short-term reference: Safety first. Remember that the market is never 100% certain, so always set a stop loss. Safety first, small losses, and big gains are the goal.
For long positions, testing points from 2520 to 2480, with a defense at 2430, stop loss at 30 points, target looking at 2580 to 2630. If broken, target 2680 to 2720.
For short positions, testing points from 2700 to 2720, with a defense at 2740, stop loss at 30 points, target looking at 2650 to 2600. If broken, target 2550 to 2520.
Specific operations should be based on real-time market data. For more detailed information, you can consult the author. The article may have a delay in publication; suggestions are for reference only, risks are borne by yourself.
