Hello everyone, I am Lulu 👀

The current market sentiment is a bit like navigating through thick clouds. Although it just retested 2240 without falling below, the resistance above is also significant. Based on the current order book and indicators, Lulu has organized these key levels for you:
🧱 Resistance level (the "ceiling" above)

First resistance level: 2285 - 2300

This is the most direct pressure zone at the moment. Currently, the 50-day moving average is pressing around 2286. If ETH cannot break above this level with volume, it may continue to fluctuate here in the short term.

Second resistance level: 2340 - 2400
This is where the volume declined at the beginning of May. Especially at 2400, not only is there resistance from the 21-day moving average, but it is also a psychological barrier for many traders. If it reaches this point, there will likely be significant selling pressure.

🛡 Support level (the "safety cushion" below)
Core support level: 2240 - 2250
This is a level that was just validated today. After the price retested around 2239 in the morning, it was quickly pulled back, indicating strong buying support here. As long as this level holds, the short-term rebound structure remains intact.

Ultimate support level: 2160 - 2200
If the market suddenly drops below 2240 due to negative news, the next stable level would be here. Around 2160 is the bottom of the previous consolidation range, and it is also a cost zone for many large traders.

📊 Lulu’s private analysis
Indicator signal: RSI(14) is currently around 45, in a neutral zone that’s neither overbought nor oversold.

Momentum observation: A slight bullish divergence has appeared on the 4-hour chart, which usually indicates a potential rebound. However, volume has not yet increased, suggesting everyone is waiting for the US hearing news later today.
Lulu’s little tips:

The current price is fluctuating around 2270, right in the middle of support and resistance. If I were you, I would keep an eye on 2240. As long as it doesn’t break below this, you might consider aiming higher around 2300; if it breaks down, remember to quickly secure your parachute, as the next landing point could be around 2160. #eth $ETH