5.21 Ethereum Market Analysis

Ethereum experienced a rebound after a morning decline, supported by the Fibonacci retracement, and has stabilized around the 2500 level. The intraday high reached 2615, without hitting resistance. I, Lao Zhang, remain optimistic about the 2700 mark; if it doesn't touch, there won't be a significant pullback. On the hourly chart, the moving averages are in a golden cross cycle, and the upper Bollinger Band is providing short-term resistance to the upward movement. The overall trend remains bullish. The MACD shows a dead cross with no volume to release. On the technical front, the KDJ has a low-level golden cross and is rising. Short-term support to watch is at 2540; if touched, a long position can be entered.

Trading Advice: Gradually buy in at 2540-2510

Target: Break above 2640 to reach 2750

Risk Control: 2490