5.11 Ethereum Intraday Market Analysis

In the morning, Ethereum followed Bitcoin's rally to a high of 2380, then pulled back, currently slightly retracing to the 2348 area. Overall, Ethereum's trend remains in a wide-range oscillation. Recently, our outlook has been consistently bullish, and the short-term market has risen as expected. Currently, we still need to watch for a breakout above the 2400 level.

The daily chart has stabilized above the 50-day moving average, with short-term moving averages providing effective support. The RSI is neutral leaning bullish, and the MACD has a small increasing red histogram after a golden cross. The four-hour moving averages are converging and flattening, the Bollinger Bands are narrowing, with the upper band at 2380 facing resistance and the lower band at 2310 providing solid support. The overall trend is oscillating upward, with no breakout signals yet.

On Monday morning, my personal view is to go long around 2330-2320, with a defense below 2300. The target is to break through 2390 and continue upward to the 2460 area. Maintain strict position control, operate within the range, and wait for a volume breakout before adding to positions accordingly. $BTC