#ETH预测
Only he cuts people and no one can cut his Sun cuts. He was heavily invested in ETH last week.
In addition, the Cancun upgrade was completed but it fell all the way. You are all waiting to see what will happen to ETH. Some fans are already eager to try.
Here is a simple look at the current situation of ETH. In my opinion, with the increase in trading volume, it will be the focus in May and June!
What does the historical trend suggest about the price behavior of Ethereum in May?
Analysis of historical data shows that there is greater potential for Ethereum prices to return to a bullish trend. Is $3,300 a turning point for recovery?
In the market adjustment last week, Ethereum fell for three consecutive days, with the price falling from $3,286 to $2,888, a drop of 12%.
The recent decline due to increased trading volume shows that sellers are confident to lead the asset value lower as the price of BTC falls below 60,000. However, analysis of the daily chart shows that the correction remains above a healthy retracement level and keeps the bullish pattern intact for a potential reversal.
Over the past seven weeks, Ethereum price has exhibited a textbook downtrend, with lower highs and lower lows on the daily chart. This price action in relation to the downward sloping trendline reveals a falling wedge pattern, a bullish continuation setup often found in an established uptrend.
In response, ETH price has plunged 30% from a high of $4,084 to its current trading price of $2,899. If the broader sell-off persists, the altcoin could drop another 6% to hit the lower trendline at $2,700.
The aforementioned level aligns with the 50% retracement level and the 200-day moving average slope, creating a high-demand area for buyers to fight back. New demand pressure at $2,700 would indicate initial signs of a local bottom forming.
Ethereum’s historical performance in May shows great volatility, with both large gains and losses over the years. As of May 2024, the asset has seen a slight decline of -3.79%, while 2023 has seen a slight increase of +0.16%.
In comparison, gains in May 2017 and 2019 were as high as +161.43% and +56.65%, respectively, highlighting the potential for high returns despite overall instability. Additionally, ETH prices have seen declines in years such as 2018 and 2021, at -13.96% and -2.31%, respectively.
However, the average gain of +23.66% indicates that Ethereum has greater potential to rebound this month and maintain a bullish outlook.
Technical indicators
Average Directional Index: The ADX slope has risen by nearly 23%, indicating that sellers are gaining momentum for a long-term decline.
Exponential Moving Average: ETH price is trading above the 200-day moving average slope, highlighting that the broader market sentiment remains optimistic.
At present, the bull market is surging, and we have the opportunity to share passwords every day.
Again, if you don’t know what to do in the bull market, click on my avatar, follow, bull market spot planning, contract password, free sharing.
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#ETH #BTC #美联储何时降息？ #AI板块强势进击
