ETH Trading Strategy | May 9

Currently ETH is about $2,306, with an intraday high of $2,323 and an intraday low of $2,276.

Overall judgment: Slightly bullish consolidation, but do not chase highs.
Resistance above: 2325—2350
Strong resistance: 2380—2420
Support below: 2285
Strong support: 2255—2235

US stock sentiment is relatively strong, providing support for ETH. Regarding ETH ETFs, on May 7th, net outflows were about $103.6 million, and on May 8th, slight inflows of about $3.6 million, indicating short-term capital warming but not yet a strong unilateral inflow.

Important events today:
No major data over the weekend.
Next week’s focus is the US CPI on May 12, released at 8:30 AM Eastern Time.
If CPI is below expectations, it’s bullish for ETH; if CPI exceeds expectations, US bond yields will rise, and ETH may amplify its correction.

Today’s trading idea:
Main idea: Pull back to go long, do not chase highs.
Prioritize waiting for dips to 2295—2265 to add long positions in batches.
If it directly rises above 2335, do not chase immediately; wait for a pullback to 2320—2325 without breaking, then consider light positions.
If it falls below 2265, do not enter longs first; wait for a failed rebound to consider shorting.
If volume increases and it stabilizes above 2350, it can continue upward toward 2380—2420.

Range forecast:
Strong support: 2235—2255
Short-term support: 2275—2285
Consolidation zone: 2285—2325
Breakout resistance: 2350
Strong resistance: 2380—2420

Trading suggestions:
Do not chase longs now; ETH has already recovered near 2300, showing short-term rebound sentiment, but expect some shakeouts around 2350. The prudent approach is to wait for dips to buy, not to chase after rises. If it breaks below 2265, stay on the sidelines; wait for a rebound that cannot break back above 2280 before considering short positions.

For reference only, not investment advice.