Crypto Circle Academician: The opportunity around 2,370 on Ethereum on 5.6, the most optimal long-short layout with risk-reward ratio, read and copy directly! Latest market analysis and operational suggestions

Ethereum current price is 2,370. This wave of follow-up rally is obviously weaker than Bitcoin. Many crypto friends are calling for a rebound rally. Honestly, seeing Bitcoin soar, Ethereum is stuck here without movement. Everyone is anxious, but the most common thing in the crypto world is chasing gains and selling at losses. Don’t listen to others saying Ethereum will catch up and double, get excited and go all-in, you never know if Bitcoin will suddenly crash in the next second. Never use living expenses or borrow money to trade contracts. Make some small profits and be content, don’t get carried away when losing. The principal is still there, and the opportunity is still there.

The daily K-line price is near the middle of the medium-term upward channel, the moving averages are arranged northward but unchanged, while the MACD indicator’s red bars continue to shrink, and DIF and DEA are about to form a death cross, showing a significant weakening of upward momentum. The Bollinger Bands are narrowing continuously, with the current price close to the middle band, the upper band resistance at 2405, and the lower band support at 2241. The daily level oscillation range is narrowing, and a direction choice is imminent. The profit and loss ratio for chasing longs has already decreased significantly, and the risk of a pullback is accumulating.

The four-hour moving averages are well arranged northward, with short-term support moved up to around 2340. However, the price is already oscillating below the upper Bollinger Band. Although overbought signals are not obvious, momentum continues to weaken. The MACD indicator’s red bars have not disappeared, but compared to previous highs, there is a clear reduction in volume, and the upward momentum is gradually weakening, with initial divergence signals appearing. The current price is oscillating in the 2350-2400 range. If it cannot effectively break through the upper band, it is likely to retest the middle band support of the Bollinger Bands. Short-term trading should be cautious of the risk of rising and falling.

Short-term reference: (Practical data updated, details consult the author)

Support below at 2350 to 2300, stop loss at 2270, target at 2400 to 2450

Resistance above at 2400 to 2450, stop loss at 2480, target at 2350 to 2300

I have seen too many people frequently trading during sideways consolidation, losing all their principal before the breakout direction appears. Hope when the trend comes, you and I are both $ETH ‌#比特币ETF期权持仓限额增4倍