5 - 03 Evening Viewpoint

Currently, ETH has pulled back from the high of 2403 and remains in a volatile correction structure overall. After the previous dip to around 2218, there was a clear rebound, with the price gradually rising and regaining the 2300 level, repeatedly trading within the 2300–2330 range. The current price is around 2325, showing a short-term oscillating upward trend, but overall it has not fully broken out of the range-bound pattern, with bulls and bears continuing to battle within this zone.

Currently, the 2320–2340 area has become a key short-term dividing line between bulls and bears.
If the price can hold above this zone, there is a chance to further test the resistance area of 2350–2380;
If it continues to face resistance in this zone, the market may retest the support levels at 2300 or even 2280.

BOLL (Bollinger Bands):
Upper band: around 2337
Middle band: around 2311
Lower band: around 2294

The Bollinger Bands are slightly widening, with the middle band clearly trending upward, indicating that short-term volatility is increasing, and the market is gradually transitioning from a consolidation to a slightly stronger structure. The current price is operating near the upper-middle band. If it can stay close to the upper band and break through effectively, the short-term rebound momentum may continue.

MACD:
DIF and DEA are both above the zero line, with the histogram continuing to expand, indicating that the bullish momentum is gradually strengthening. However, caution is needed for potential momentum slowdown at high levels, and a pullback after a surge should be confirmed.

Key Resistance Levels:
2340 (short-term resistance)
2355 (structural resistance)
2380 (strong resistance level)

Key Support Levels:
2320 (short-term support)
2300 (range support)
2280 (previous low support)

Summary:
The current market is in a short-term slightly bullish structure within a consolidation zone. The price is oscillating upward around 2320, with potential upward pressure testing momentum, but overall still operating within the range.

If volume increases and the price can hold above 2340, the upward space may further open;
If it faces resistance on the surge, it will likely revert to range-bound oscillation or even retest the 2300 support.

Trading suggestion:
Pay attention to the breakout of key resistance levels, avoid chasing longs at high levels, and wait for a retest confirmation before participating.

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