#Gate广场五月交易分享

May 6 Ethereum Market Analysis

Short-term trend: Ethereum price has recently been fluctuating between 2360 and 2398, with a high rally that failed to break through continuously, showing multiple upward pushes followed by pullbacks.

Support and resistance:

Support level: Around 2352-2360. If the price pulls back and stabilizes, it can be considered a valid short-term support.

Resistance level: 2398. If the price breaks above the resistance, it is expected to continue rising toward 2450.

Market characteristics: The obvious "up and down" oscillation pattern, with the price repeatedly fluctuating near the moving averages, indicates a market in wait-and-see mode. The real showdown may occur tonight, with a higher probability of an upward breakout.

Trading suggestions:

Long position strategy: If the price pulls back to 2360-2363 and stabilizes, consider a light long position, with a stop loss at 2355, targeting 2385-2398.

Short position strategy: If the price hits resistance at 2398-2400 and pulls back, consider a short-term light short position, with a stop loss at 2405, and take profit at 2375-2365.

Trading principles: Follow the trend, control position size, and observe during short-term oscillations.

Avoid frequent chasing of highs or lows, and strictly implement stop-loss and take-profit levels.