ETH market analysis at dawn on May 10

Today, Ethereum as a whole is still in the vicinity of 2000 for box-shaped oscillation adjustment. In fact, the decline around 9:30 this evening did have the flavor of testing the key support of the monthly low, but the result shows that this round of decline is still a "false shot". After the subsequent space head shrinks and inserts a pin, the bulls began to rebound and pull up. So here, my personal technical thinking is still consistent with the daytime analysis. As long as the key support of the monthly low is not broken, Ethereum will still rebound and rise in the future. For the short-term, since 3000 cannot be effectively broken, the follow-up will naturally focus on stepping back and going long.

From the perspective of the 12 uncle level, the current Ethereum and Bitcoin main charts have broken MA5 and have shown a rising signal of green TD1. In terms of the chart, KDJ and MACD shorts have shrunk in volume, and the BOLL lower track has also seen a small technical change of closing. So overall, as long as this round of green TD1 can stabilize, the next K will also be bullish. It depends on whether Ethereum can stabilize above 3000 in the early morning.

In terms of 6 hours, Ethereum's TD9 is also in a serious lagging stage, so it is reasonable for Ethereum to rebound and strengthen in the short term. As for when the bulls can explode and increase in volume, the key is to see when the dealer ends the wash.

Summary: The current short-term thinking is basically consistent with the daytime analysis (for specific details, you can refer to my daytime analysis blog). For the ultra-short-term market trend this morning and tomorrow morning, it depends on whether the price of 3000 can be stabilized. If Ethereum can stabilize at 3000 in the early morning, the probability of strengthening tomorrow will be relatively high. The subsequent high point ultra-short-term key strong pressure is still referenced near 3145 (note that only when 3145 is effectively broken, the subsequent bulls will strengthen the volume, otherwise the rising sentiment will be in vain).

The above is a personal analysis of the early morning market, for your reference only. #ETH #BTC