On May 18, the price of ETH rose, increasing by more than 2.5% in the past 24 hours, with a trading price of $2,536.
The price of Ethereum rose more than 4.5% from a low of $2,440 the previous day to an intraday high of $2,551. This rebound has strengthened market optimism, suggesting that the price of ETH could reach $3,000 in May due to strong technicals.
On May 19, in addition to the sharp decline in Ethereum, the cryptocurrency market also experienced massive liquidations. Over $158 million in leveraged positions were liquidated in the past 24 hours, with $95 million being long positions.
The total liquidation amount for Ethereum short positions reached $22.25 million, with $7.5 million evaporating in just the past hour. The recent decline in Ethereum is a technical pullback aimed at retesting key support levels before continuing to rise, targeting $3,000 and above.
The Ethereum price bull flag pattern is still in play. From a technical perspective, the ETH price remains above a bull flag pattern on the four-hour timeframe, which is a bullish signal formed after a significant price increase followed by consolidation in a downward range.
On May 13, when the price broke above the upward trend line at $2,550, the bull flag was confirmed. Currently, Ethereum is retesting the upper boundary of the flag, which is currently at $2,470, forming a direct support level.
If the daily chart closes above this level, Ethereum may resume its upward trend, moving towards the technical target of the bull flag at $3,720, a 50% increase from the current price.
Total 5-day inflow: –21,112.49 BNB — dominant outflow of large volumes
Last 24 hours: +13,019.98 BNB — significant inflow
Key findings:
Strong outflow at the beginning of the period: –39,734.21 BNB indicates unloading by large players.
Recovery of inflow in the last 2 days (+12,575.29 and +13,019.98 BNB) may signal:
Bottom fishing
New interest from whales
Overall trend for 5 days — negative, but locally the situation is turning towards accumulation.
Conclusion: If the inflow trend continues, the local bottom may have already been passed. This could be a signal for medium-term growth. It is important to monitor confirmation through price and on-chain activity.
The market has entered a phase of rapid fluctuations, and the magnitude is very large. The difficulty of contracts is constantly increasing, and contract players must be increasingly cautious. If you believe that you are slow to react, it is actually a wise choice to temporarily refrain from trading contracts!
Did you catch this wave of increase, or are you still waiting for Bitcoin to drop below 100,000 before choosing to enter? Looking at the current rising market, do you choose to continue observing or chase the rise? Without a good judgment of the overall trend, it can lead to situations where you dare not buy when the price drops and cannot hold when the price rises. Recently, after listening to Taco's advice, no matter which coin you buy, you are buying at relatively low points and selling at relatively high points.
Ether's increase today has started to retreat after reaching around the resistance of 2580. As long as it does not fall below the support around 2440, the upward trend is still in place, and you can continue to hold your positions. Conversely, if it breaks below the 2400 level, you should reduce your overall position.
Bitcoin surged back to around the support of 104,000, with another support level around 103,600, which is considered relatively strong. From a daily perspective, Bitcoin has been fluctuating and stabilizing around 102,000, and without significant negative news, there will not be a large correction.
The current market has both risks and opportunities. For those without a base position, it’s good to enter a base position. You can choose two from all the MEME, Ethereum Layer 2, Solana ecosystem, BNB ecosystem, AI, and other sectors. When the overall market rises, altcoins will also rise together. Friends who hold positions can patiently wait for Bitcoin and Ethereum to form a new trend before making decisions on reducing or increasing positions.
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When Rare Achievements Become High-Value "Collectibles"
Some hardcore players in shooting games, action games, or strategy games are often willing to invest hundreds or even thousands of hours to obtain extremely rare achievements. Once these achievements are recorded on the XAI chain through Proof-of-Skill, they are no longer just simple numerical badges, but may become highly collectible "gaming artifacts." In the future, some especially precious achievements may even be traded at high prices or used by officials as passes for special events, further highlighting the potential value of the XAI ecosystem. $XAI
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