Bollinger Bands upper and lower bands define the life-and-death zone: 1850-2150

Technical analysis still needs to be trusted at times, especially when the market is in such extreme weakness. On the daily chart, ETH has already broken below all short-term EMA averages, and the EMA120 long-term average is still showing a downward pressure. The middle band of the Bollinger Bands currently acts as a strong resistance, while the lower band has become the "life-and-death line."

On the 4-hour chart, the MACD indicator's DIF line is turning downward below the zero axis, seemingly about to form a death cross with the DEA line, indicating a resonance. The KDJ and RSI patterns also do not support a powerful rebound. The upper Bollinger Band around 2152 is a strong resistance; as long as the price doesn't break through there with volume, the bullish trend is unlikely to reverse.

Support below is no longer just a range issue. $2025 is a short-term support on the daily chart; if it can't hold, the next support is at $1945, then the next at the round number of $1900. If $1900 breaks—then the entire chart structure will look very ugly. Going further down, $1850 and $1800 will be sequentially exposed to the market.

That long lower shadow a few days ago, bouncing from the low point to above 2100, initially gave bulls some hope. But in reality, it was just a brief short squeeze, essentially an emotional correction during a downtrend. Afterwards, the price quickly fell back into the 2000-2050 range, creating new lows, indicating that all rebounds were seen as opportunities to offload.

So what is the most crucial trading strategy at the end of May? It’s not recommended to hold positions blindly. Favor the key range of 1850-2150, likely completing May’s closing within this zone. Consider a small rebound near the lower boundary or a light short near the upper boundary—these might be more prudent than entering heavily to chase a "trend reversal." #Polymarket每日热点