Brother Hao's ETH Market Analysis & Today's Strategy (May 28 Morning Session)

This morning, the market continued to weaken, with ETH dropping as low as 1993.67, completely breaking below the key level of 2000. The 24-hour decline ranged from 3.98% to 4.6%, and the current price hovers between 1978 and 1981.

2000 is not only a psychological barrier but also an important technical level. Previously, there was a significant accumulation of long positions here. Falling below this level can easily trigger concentrated liquidations, exacerbating the downward trend. Next, we look at the temporary support at 1880-1930, with strong support at 1750-1840. Given the weekly chart's relative weakness, the downside could even extend to the 1560-1850 range. On the rebound path, resistance levels are also numerous, with short-term first resistance at 2040-2090, and the daily chart's key dividing line between strength and weakness at 2120-2150. To fully reverse the downtrend, ETH must first break above 2500 and then surpass 3100.

Currently, the market is highly volatile, with fierce battles between bulls and bears. Leveraged positions, geopolitical tensions, Federal Reserve policies, and related capital flows all contribute to rapid price swings. Additionally, many traders are eager to catch the bottom. Based on past trends, this also indicates that the correction has probably not fully ended.

From a comprehensive market perspective, there are opportunities for short-term rebounds. Brother Hao's strategy today leans toward going long, with entry points around 1930-1970. The first target is 2010, and after breaking through, the next target is 2060.