5.12 Tuesday, Ethereum Market Analysis

In recent times, Ethereum’s market has continued to fluctuate; the price has been tugging back and forth in a manner that has always stayed within the 2300-2400 range, oscillating between the two. After a modest uptick in the early session, it came under pressure and pulled back. It is currently adjusting around the 2315 level. Yesterday, after sharing a low-buy (long) idea, Ethereum overall delivered a rise of more than 40 points. The overall market remains in a bullish-leaning range-bound structure, and the approach is still primarily to treat it with a low-buy mindset.

On the daily chart, the price action continues to maintain a consolidation formation. Short-term moving averages have formed a slight suppression, and the indicator in the sub-chart is trending toward flattening. Bullish momentum has slowed somewhat, while the downward support remains solid. In the short term, there is still no clear breakout/breakdown signal, and the market remains in a consolidation and accumulation phase. On the 1-hour chart, it has stabilized above 2310, with support at 2300-2310 and resistance at 2350-2370. The bullish structure is intact.

On Tuesday morning, from my personal perspective, it is a buy-the-dip setup around 2310-2300, with targets in the 2380-2450 zone. Strictly control positions and set reasonable defensive levels. Before the price effectively breaks out of the range, prioritize a short-term strategy of selling high and buying low. $BTC