5.29 Market Analysis

From a daily perspective, the current KDJ continues to oscillate upwards, and the BOLL is overall moving upwards (compared to yesterday, the BOLL bands are significantly aligned upwards). Today's trading volume has also expanded (although not all trading chips have been released, the volume indicator shows that volume bars are greater than the previous five days, indicating that the oscillating market has already broken free, and the next step is a strong upward attack). In the main chart, the current MA5 and MA10 are moving significantly upwards, and the MA30 low points continue to strengthen. Additionally, note that today all three MA lines have shown accelerated upward movement, so we will continue to look bullish in the short term. However, the ultra-short-term ETH has already hit strong resistance, so there will be a brief technical adjustment in the resistance zone, waiting for the adjustment to end before the market continues to increase in volume.

The technical situation on the 12-hour chart is basically the same as the daily chart. Currently, the 4-hour BOLL is in a retracement phase for repair. Based on this, ETH is expected to start a second wave of upward momentum around 4 PM or 8 PM.

Summary: Personally, I expect that today ETH will mainly oscillate upwards throughout the day (note that around 4 PM or 8 PM, the market may welcome a second round of a small climax, but before the bullish sentiment arrives, short-term ETH is in a phase of technical repair and adjustment, and even if it retraces, the intensity is not expected to be too strong). Subsequently, the extent of the increase will depend on when the key resistance level of 2760 can be effectively broken and stabilized. As long as 2760 is effectively broken, the subsequent highs will look towards the 3000-3140 range. #ETH