Li Shengtong's Ethereum Market Analysis and Trading Ideas on May 6th

This week, Ethereum also welcomed the weekly K update. From the weekly technical indicators, the KDJ indicator shows clear signs of an upward trend, and currently, Ethereum is firmly standing above the MA5 daily average. With the MA5 daily average trending upwards, Ethereum is also stable above the MA10 daily average and is arranged in a green TD2 upward pattern. From the price movements around 8 PM and during the US stock market opening period, the price has been declining. For the larger trend, Ethereum has preemptively repaired the technical gap with the MA5 daily average, completing the bottoming process.

From the 4-hour technical indicators, the KDJ and MACD indicators are still oscillating in the mid-axis area. The current trading volume appears relatively weak, while the BOLL indicator continues to oscillate upwards. Although the short-term price is running below the 5-day moving average, both the MA5 and MA10 daily averages are maintaining a strengthening state. Therefore, in the early morning and tomorrow morning, we still look towards an upward oscillation. Those with positions can be patient and wait.

Ethereum long positions around 1810-1790, stop loss at 1760, target 1870-1900

The above is my personal market analysis from the early morning, for your reference only #比特币战略储备 #加密市场回调 $ETH