5.24 Ethereum Market Analysis

After a sharp drop in Ethereum's price yesterday, it is currently in a low-level consolidation. The one-hour chart shows that the Bollinger Bands have narrowed and are parallel, and the moving averages have not formed a golden cross in the past two days. The price is expected to maintain a volatile upward trend. Today's resistance to watch is 2580; if broken, pay attention to 2610, which is a significant resistance level for the longer term and can be seen as an opportunity for long positions. The MACD indicator shows a bearish crossover and is declining from a high position, indicating a short-term pullback trend. Tomorrow, Ethereum is still expected to maintain a volatile upward trend. Old Zhang suggests buying in batches as Ethereum pulls back to 2530-2510.

Target: 2580

Risk Control: 2490

Short Position Suggestion: 2610-2630, sell in batches

Target: 2550-2500-2450

Risk Control: 2650