5.9 Ruo Yi Morning Ethereum Analysis: After encountering resistance at high levels, where is the next key point?

Family, this morning’s Ethereum surge and pullback already show very clear signals! The bulls completely couldn’t hold up around 2320—although it briefly spiked, it never managed to stabilize. The quick retreat left a long upper shadow, indicating that selling pressure above is simply too heavy, and the bulls are already running out of strength.

Indicators are also releasing signals in sync: the KDJ is turning down from a high level, the early form of a death cross has already appeared, and the pullback pressure after being overbought is about to come; ATR continues to decline, volatility is getting smaller, and in high-level consolidation, the bears’ advantage is expanding step by step.

Now the price is repeatedly hovering around 2300—this isn’t building momentum at all; it’s weak consolidation after a spike! If today it can’t quickly reclaim and hold above 2330, then most likely the next move will be a pullback/retest. For now, the lower support to watch is the 2260-2240 range.

The trading advice for everyone is very clear: look for a short position following the trend around 2320-2340, with targets at 2230-2200,

$BTC $GT $ETH