Analysis of ETH on May 7:
The trend of Ethereum yesterday was affected by Bitcoin and showed a double explosion of long and short positions. The highest rise value was around 3220, and the decline was directly killed to around 3040. It is currently recovering to around 3080.
Trend: The overall trend has not changed. From the four-hour level, it is still running in a downward trend. Yesterday, after touching the downward trend, it tested a breakthrough, but it was brought down by Bitcoin without stabilizing. At present, there is still not enough capital support to go out of the independent market.
In terms of the exchange rate against BTC, the overall fluctuation is not large. It strengthened slightly during the day, and then it was hit by Bitcoin in the evening. It is still running around 0.0485. At present, the exchange rate at this position is cost-effective. You can try to buy low on the left. If it can stabilize at 0.05, the certainty of entering the market on the right is higher!
Pay attention to the short-term resistance above 3200, 3400
Pay attention to the short-term support below 3000, 2800
