May 28 Thursday ETH Morning Thoughts


After Ethereum synchronized with Bitcoin's rapid decline, the bearish momentum has fully released, entering a short-term oversold correction phase, confidently expecting a rebound in the market.
During the day, the price linked with BTC's bottoming out, with strong support at $2040-2050, the downward sentiment has been released, indicators are severely oversold, and there is a strong technical rebound demand. The four-hour bearish momentum continues to weaken, the Bollinger Band lower band is about to close after opening, signaling a short-term bottoming pattern.
Ethereum's long-term staking deflationary logic remains solid, and the fundamental ecosystem has not changed. This round of decline is only a short-term emotional sell-off. As long as key support levels are held, an oversold rebound is imminent, with the first resistance zone at $2120-2150. Once stabilized, further upward recovery space will open.
Trading suggestions: 2015-2020 to watch for a rebound
Target 2050-2080 $BTC $ETH $SOL
ETH-2.82%
BTC-2.63%
SOL-2.7%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned