Coin Sea Wave: 5.7 Cryptocurrency Market Ethereum (ETH) Latest Market Analysis and Insights

Coin Sea Wave: 5.7 Ethereum (ETH) Market Analysis Reference:
Ethereum's recent price movement has maintained a volatile upward trend, testing resistance above yesterday and pulling back. As of the time of writing, the price is around 2345.
From the daily chart perspective, Ethereum's daily line is currently in a high-level oscillation phase after an upward trend, with the price consistently staying above the middle band of Bollinger Bands and the short-term EMA moving averages, maintaining a healthy bullish trend overall.
The upper Bollinger Band acts as a strong resistance, with the key support forming near the middle band at 2323.
In terms of indicators, the MACD's DIF and DEA are still operating above the zero line, indicating decreasing bearish momentum;
The RSI remains in the 55-65 range, not yet entering the overbought zone above 70, but the short-term strength line is already relatively high, suggesting overall momentum is bullish but showing signs of slowing down;
The KDJ lines are moving upward in sync, with the J line slightly turning, indicating that the daily bullish trend continues, mainly consolidating at high levels without clear reversal signals, so the short-term market is likely to continue oscillating with a slight bullish bias.

The 4-hour Ethereum chart shows clear signs of short-term correction, with the price encountering resistance at the 2423 high and pulling back.
It has broken below the middle Bollinger Band and short-term moving averages such as EMA7 and EMA15, indicating a short-term weakening signal;
The MACD's DIF crossing below DEA forms a death cross, with the bearish histogram continuing to expand, and bullish momentum significantly diminishing.
Meanwhile, RSI has fallen below 50 from a high, and the KDJ has formed a death cross downward, confirming a short-term correction trend through multiple indicators.
The 2400-2420 zone above is a multiple resistance level, while the lower support levels are near the lower Bollinger Band at 2321 and the 2300 line.
If support holds, the price is likely to enter a range-bound oscillation; if support fails, the correction space will further open.
Overall, the short-term trend is mainly weak oscillation, and attention should be paid to the volume and support performance in these areas.
In terms of trading strategy, it is not recommended to chase high blindly; it is safer to buy on dips at lower levels.

Coin Sea Wave: 5.7 Ethereum Short-term Reference:
Short position: Short between 2420-2390, stop loss 30 points, target 2360-2310,
Long position: Long between 2305-2335, stop loss 30 points, target 2360-2400,
This content is originally shared by 【Coin Sea Wave】, representing personal views only.
The article may have delays in delivery and is for reference only. Do not operate blindly!
Hope everyone can stick to their principles on the investment journey, regardless of market fluctuations, and stay rational and calm. #加密市场回升 #Aave起诉要求解冻7300万美元ETH $ETH