5.27 Evening Analysis of Two Pancakes

ETH is currently at the 2639 line, having just broken through the middle band of the Bollinger Bands at 2551, and is pushing against the upper band at 2619, showing signs of short-term bullish strength.

The previous high point of 2738-2740 is the main resistance level, with support in the 2480-2550 range.

The overall structure is biased towards bullish, and bulls are continuously testing the upper band, with short-term rebound space available, but facing upward pressure.

Recent ETF expectations and rumors of SEC approval continue to stimulate the ETH market, with capital sentiment optimistic;

There are no heavy bearish news, and the bullish atmosphere is evident, but if good news is cashed in or the overall market corrects, one needs to guard against the risk of a high-level pullback.

For Bullish

If the price pulls back to around 2580-2610 and quickly rebounds, one can gradually establish long positions;

Or if it breaks strongly and stabilizes above 2740, then chase longs, targeting directly at 2800 and above.

For Bearish

If the price hits resistance around 2740, repeatedly pushing higher and then falling back with increasing volume, one can consider trying to short;

Or if it drops below 2550 and rebounds without breaking 2570, one can short briefly.

Summary

Within the sideways range (2550~2740), sell high and buy low, operate in a fluctuating manner.

Break above 2740 with volume to chase longs, and consider chasing shorts if it drops below 2550.

Respond flexibly to avoid chasing highs and triggering sell-offs, and be cautious of pullback risks brought by cashing in on good news.