5/8 ETH Daily Gann Technical Analysis

Currently, ETH is at a critical directional decision point on the daily chart. Combining Gann box and trend lines, the key signals are as follows:
1. Key Resistance Levels
Strong resistance zone: 2350-2380, overlapping Gann box 0.618 pressure and downward Gann 8 to 1 line resistance. Around May 12 is a critical time window. If this zone is effectively broken, it indicates a continuation of the bullish trend; bears should reduce positions or cut losses.
Secondary resistance: 2340, the short-term resistance above the current price, is the first checkpoint for judging bullish or bearish momentum.
2. Core Support Levels
Strong support zone: 2160-2100, resonating with Gann 0.75 box support and the upward trend line, is a key defensive area for bulls.
Key defensive level: 2023, if the price breaks below the 2100-2160 zone, this level becomes the next important support and a reference for stop-loss placement.
3. Trading Strategy Reference
Bullish: When the price stabilizes in the 2160-2100 range, consider light long positions with stops below 2023, targeting the 2340-2380 zone.
Bearish: Before breaking above 2350-2380, consider light short positions above 2340, with stops above 2380, targeting the 2230-2160 zone.
Key Time Window: Focus on around May 12; breaking above or below these key levels will clarify the subsequent trend.
💡 Tip: Technical analysis is probabilistic; strategies should be adjusted based on real-time volume and market sentiment dynamics.
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