5.18 Ethereum Morning Analysis



Ethereum has repeatedly risen into resistance lately. After pushing higher, it then slips into a pullback trend, with bullish momentum becoming increasingly weak.

From the daily chart, Ethereum’s price has been falling consecutively and has already broken below the intraday moving averages. The Bollinger Bands are opening downward, and the price is moving along the lower band, making the downward trend clear. From the hourly indicators, the MACD double moving averages are below the zero line and have formed a death cross, indicating a bearish trend. The number of red bars is increasing, bullish momentum is weakening, and the bears are in control.

Trading suggestions:
Short around 2160-2140, targeting 2050-2020 points
ETH0.75%
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