5.18 Ethereum Market Analysis

After 2 days of fluctuating consolidation, Ethereum rose in the evening session to reach the Fibonacci level of 2585. On the hourly chart, if the resistance is not broken, it will continue to be under pressure. The Bollinger Bands show a short-term upward trend clearly indicating a potential false break. The MACD shows a golden cross with no volume to support it, and on the technical side, after the KDJ fast line reaches the top, it will present an opportunity for a bearish volume increase. Overall, if Ethereum touches the vicinity of 2585 again during the day, it would be advisable to set up a short position.

Trading Advice: Short in batches at 2585-2605

Target: 2530-2430

Risk Control: 2630