5.17 Market Trend Analysis

From a daily perspective, the current KDJ and MACD volume have shown a reduction, with indicators experiencing a slight downward technical change. The BOLL is still overall opening, but Ethereum's price is attempting to retreat to the middle track; on the main chart, the MA5 daily moving average has turned downwards, while the MA10 and MA30 continue to strengthen (indicating that short-term market bullish momentum is insufficient, but there is still strong support below). Additionally, note that Ethereum’s green TD9 has stabilized, so there is a high probability that today will continue with a downward adjustment (primarily to repair the TD9 indicator).

From a 12-hour perspective, the current KDJ and MACD have formed a dead cross and are resonating downwards. In terms of BOLL, Ethereum's price has dropped near the middle track, but the overall track is still moving sideways upwards; on the main chart, the MA5 and MA10 daily moving averages are compressing and pushing down, indicating that the short-term downward sentiment has not yet ended, and the strengthening of MA30 below also reflects strong support limitations at the low points.

Summary: I personally expect that today, within a short period, Ethereum will continue to fluctuate downwards, with the key support for the low point still referenced in the 2400-2290 range. Note that if the short-term pullback does not break the lower support, then Ethereum will continue to rise northward with increased volume.