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#ETH 5.10 Ethereum evening market analysis and trading suggestions
Market Technical Analysis
Recently, the price has shown a rebound trend. After experiencing a period of decline, the current price is fluctuating near the upper band of the Bollinger Bands and is showing signs of an upward movement.
K-line pattern: The red three soldiers pattern indicates an increase in buyer strength, suggesting a potential short-term rise. The reversal signs from the overall downtrend from the high of 4109.56 are evident, and attention should be paid to whether the appearance of a doji will confirm the reversal.
BOLL: The Bollinger Bands start to expand after a period of contraction, indicating increased market volatility. The K-line breaking through the upper band shows a strong rebound, suggesting that the market may enter a new uptrend.
Short position operation suggestion: Enter around 2450-2480 on the rebound, target around 2230. Long position suggestion to enter near 2230. This strategy is for reference only.