ETH intraday market analysis on May 12

For the current round of decline sentiment, according to the monthly level trend chart, the price of Ethereum and Bitcoin has not effectively broken through the monthly MA5. As long as the monthly MA5 cannot be effectively broken, the future market will still be suspenseful. On the contrary, only when the monthly MA5 is effectively broken, the direction of the market will change.

At the daily level, the current KDJ and MACD bottom cross shorts are large, and the current coin price in BOLL has also fallen to the vicinity of the lower track, and the trend moves in line with the lower track; the main chart MA three-day moving average continues to suppress the decline in a short arrangement. For the short-term trend here, Ethereum will only open the trading volume if it effectively breaks through the MA30-day moving average. Otherwise, the short-term trend will be suppressed by the MA30-day moving average and fall slowly in stages.

The technical trend of the 12-hour level is basically the same as that of the daily line. For today, both the 12-hour and daily line indicators are sideways short, but the BOLL lower track does not give much room for decline, so there will be a round of shock rebound adjustment or horizontal rebound in the short-term. In short, the shock rebound in the ultra-short-term is still a repair rebound to adjust the sentiment. As long as its strength cannot effectively break through the key indicator suppression of the daily MA30, the subsequent currency price will still show a short-selling sentiment after the pressure is touched. The key support of the low point market is still referenced near the 2852-2791 area.

For the market trend, the 2852-2791 area is the key support price at the monthly level. If this area can support this round of short sentiment, there is still room for pulling in the future market (to put it bluntly, as long as the monthly support is not broken, Ethereum still has a chance of rebirth in the future). On the contrary, only when the 2852-2791 area is effectively broken, this year's "Black Crane" is likely to appear.

These two days are also statutory consolidation days, and it is estimated that the volatility will not be too strong. Please refer to the analysis and trading rationally.

The above is a personal intraday market analysis for your reference only. #ETH #BTC#

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