5.29 Ethereum Early Morning Analysis

Trend

ETH has recently rebounded from a low position, but encountered resistance near 2700 and has not stabilized;

In the 1-hour chart, the K-line is currently slightly above the middle track of the BOLL, showing short-term fluctuations;

The BOLL channel is narrowing, and a directional choice may occur in the short term;

There is strong support around 2600-2620, while there is obvious pressure at 2660-2670.

News

The overall market environment is cautious, BTC is in horizontal fluctuation, and ETH is relatively resilient;

After the ETF and halving topics have fermented, bullish sentiment has slightly cooled, and the short-term main players are cautious.

Short-term Strategy: Range fluctuations, high selling and low buying

Long Position:

Gradually buy near 2610-2625

Short Position:

Sell near 2670-2690

If the market breaks through 2690 and stabilizes with volume, the short-term trend will further strengthen, and pay attention to stop-loss on short positions.

If it breaks below 2600, caution is needed for further accelerated declines, and short-term longs should exit.