5.22 Market Analysis🚀🚀
The daily level shows that $ETH broke through the upper rail resistance with a big positive line and then retreated slightly, and the overall strong bull structure is still maintained. The current market is in a critical position, and there are obvious signs of the main control. In the short and medium term, the trend of oscillating upward has not changed.
From the 1-hour level, the price runs along the upper rail of the Bollinger Band, the channel is expanding, and the middle rail continues to move up. In terms of technical indicators, KDJ diverges upward after forming a golden cross, and the MACD red kinetic energy column strengthens above the zero axis, indicating that the bulls have the upper hand.
Historical trends show that ETH is often accompanied by a correction after a high rise, which is a normal adjustment and accumulation process. The current focus is on the support area of 2500-2530 US dollars. If it stabilizes, it is expected to continue the upward trend. There is a certain resistance above 2600 US dollars, and a greater upward space may be opened after a breakthrough.
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