5.22 ETH Morning Strategy Analysis
Market Recap:
ETH is maintaining a weak consolidation pattern this morning, with a rebound to the 2145 level facing resistance and pulling back. The current price is hovering around 2130. Short-term bullish momentum is fading, market sentiment is becoming cautious, and selling pressure is increasing at higher levels, leading to an overall bearish trend.
Technical Analysis (1-Hour Timeframe):
The price rebound couldn't hold above 2140, falling back towards the moving averages. The MACD indicator shows a death cross forming at high levels, with bearish volume gradually increasing, indicating a short-term bearish control of the market; the KDJ indicator is also diverging downwards, suggesting continued downward pressure in the short cycle, with 2115 being a critical support zone.
Trading Advice:
Morning trades should focus on shorting at retracement highs, with caution on chasing shorts at lower levels.
Reference Range: Short between 2138-2150, targeting 2118-2105.
#ETH
Market Recap:
ETH is maintaining a weak consolidation pattern this morning, with a rebound to the 2145 level facing resistance and pulling back. The current price is hovering around 2130. Short-term bullish momentum is fading, market sentiment is becoming cautious, and selling pressure is increasing at higher levels, leading to an overall bearish trend.
Technical Analysis (1-Hour Timeframe):
The price rebound couldn't hold above 2140, falling back towards the moving averages. The MACD indicator shows a death cross forming at high levels, with bearish volume gradually increasing, indicating a short-term bearish control of the market; the KDJ indicator is also diverging downwards, suggesting continued downward pressure in the short cycle, with 2115 being a critical support zone.
Trading Advice:
Morning trades should focus on shorting at retracement highs, with caution on chasing shorts at lower levels.
Reference Range: Short between 2138-2150, targeting 2118-2105.
#ETH