#Gate广场五月交易分享 ETH May 3 Market Analysis

During the holiday period, the market continued to consolidate sideways, as everyone has probably seen in the past two days. Mainstream cryptocurrencies have had little significant movement; please remain rational in approaching the market during the holiday.

On the daily chart, today’s KDJ remains near the middle axis, and the MACD continues to oscillate downward overall. The Bollinger Bands are currently narrowing and flattening, with the price close to the middle band (indicating sideways movement); on the main chart, the MA30 moving average continues to strengthen, but the MA10 moving average is still declining and suppressing the price. Additionally, the three MAs are now converging and moving together, which means the intraday trend is still within a triangle range of oscillation (although the MA10 is pushing down, the current trading range is still considered to be between 2320 and 2260).

On the 12-hour chart, the KDJ and MACD are currently converging and oscillating with slight downward movement, with the KDJ oscillating around the middle. On the main chart, the MA30 continues to decline and suppress the price, while the MA5 and MA10 are slightly turning upward with convergence. Overall, the intraday trend remains within the 2320-2260 range, moving sideways with little trading space. Please approach with caution!