Ethereum is currently experiencing a tug-of-war around the 2200 level, with technical indicators showing conflicting signals: KDJ is oversold, indicating a short-term rebound demand, but the MACD golden cross has not yet confirmed its validity.
From the market structure perspective, 2200 has formed double support—serving both as a psychological integer level and as an extension of the concentrated area of on-chain chips from May 18. This level has been quickly pulled back after breaking twice, indicating that the main funds are actively defending this area.
Bitcoin has shown a slight rebound around 98000, but it is essential to note that this position is at the upper edge of a strong support zone on the weekly level (94000-98000). If there is no hourly chart breakout with increased volume above 100000, the sustainability of the rebound remains questionable.
Current operations should pay attention to two points: if the geopolitical situation eases (such as progress on a ceasefire agreement in the Middle East), the market's fear sentiment may alleviate, potentially triggering a short-covering rebound; the EMA30 on the hourly level at $ETH 4, with 2250 becoming the intraday boundary between bulls and bears. If it stabilizes above this level, there is hope for a recovery towards the 2350 resistance zone.
Friends who are in cash can cautiously attempt to go long near 2200, with a rebound target in the 2350-2400 range.
Friends with half positions should wait for a valid breakout above 2300 accompanied by increased volume above 150000 ETH before adding to their positions.