$ETH 📊 May 7th ETH Latest Strategy & Analysis

ETH:
Currently, the 15-minute price is trading below the middle band of the Bollinger Bands, which are continuously contracting and turning downward. The short-term market shows a sideways and slightly weak structure, with the middle band at 2334.69 forming strong resistance, and the lower band at 2310.05 providing short-term support; MACD indicators DIF=-8.85, DEA=-7.45, MACD=-2.79, with green bars continuing to run, indicating that the bearish momentum is slightly dominant. Trading volume remains in a shrinking state, and the battle between bulls and bears is cautious, with increased short-term downside risk.
📉 Bearish Logic:
The area between 2330-2335 above is a strong intra-day resistance zone. When the price rebounds to this area, it is suppressed by both the middle band of the Bollinger Bands and the previous decline platform, making it difficult for the rebound to change the short-term downtrend. If the price continues to be pressured below the 2335 middle band of the Bollinger Bands, it is likely to continue downward, with the first target at 2315. If broken, it could test the 2310-2305 range, and in extreme cases, test the previous low support at 2300.
⚠️ Risk Warning:
If the price re-establishes support above the 2340 middle band of the Bollinger Bands, and the MACD green bars shrink while trading volume continues to increase, the bearish trend may quickly reverse. Be alert for a rebound to the 2355-2365 range, and strictly set stop-losses to avoid trend reversal risks.
🎯 Main Strategy: Bearish
· Short entry zone: 2330-2335
· First target: 2300
· Second target: 2290
· Stop-loss level: 2345