5.4 ETH Intraday Market Analysis - Shiyuan’s View

As of the early morning of May 4, the ETH price is around 2331–2335 USDT. It has seen a slight rebound over the past 24 hours (+1.1%), but the weekly trend is still weak (-2.3%). Overall, price is consolidating at high levels, and bulls and bears are in a standoff.

The daily chart has been moving sideways for several consecutive days, with the focus slightly shifting downward, and the trend remains weak. The key moving average (50-day EMA) is forming strong resistance around 2380.

The 4-hour chart is converging in a narrow range, with 2330 as the short-term pivot between long and short positions. If price stabilizes above it, there is upside rebound momentum; if it falls back below it, it is prone to dip toward the 2280–2250 range.

Upper resistance: 2350–2360, 2380–2400
Lower support: 2300–2330, 2280–2250

Overall, the market is in a weak consolidation trend, with rebounds mainly used for selling at higher prices. Watch the 2330 pivot level—if it does not break, consider a small long position; if it breaks, follow the trend for short positions, set stop-losses strictly, and control position size.
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