5.26 ETH Analysis

Currently, ETH on the 1-hour timeframe shows a clear bearish trend, in a downward correction phase. The price encountered resistance at the upper band of the Bollinger Bands and quickly fell back, breaking below the middle band support. The middle band has shifted from support to strong resistance, and all rebounds in the current market are suppressed by the middle band, with bulls unable to break through. The candlestick chart continuously closes with bearish candles, with highs gradually declining, and selling pressure from bears continues to be released, indicating a weak market. Although the KDJ indicator is in the oversold zone, no effective golden cross signal has formed, suggesting that the current oversold condition is just a short-term pause in the decline, not a reversal signal.

In terms of trading strategy, shorting on rebounds with resistance is the optimal approach. Long positions should only be taken with light positions when clear stabilization signals appear, and blindly bottom-fishing is not advised.

Operation suggestion: 2130-2160 range, target 2050-1980.
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