5.23 Market Analysis
Technical side:
Since the big cake stretched on the 21st, it has been reminding everyone that this position needs to fluctuate to repair the relationship between the main chart and the sub-chart. It has been maintaining a range of fluctuations. The bottom support of the big cake is 68900, the upper resistance is 70003 and 71600, and the bottom defense is 67500. The focus should be on the trend of Ethereum this wave
ETH has been fluctuating at a high level of 3660 to 3830. The sub-chart indicator at this position in the four-hour period is already at a corresponding high level. It needs to fluctuate or oscillate back before it can be repaired. After MACD is close to the zero axis, it can rush up again. Control the position. If there are more short-term profits, you can stop part of the profit, or you can stop part of the profit if you rush up again! The overall intraday is dominated by fluctuations
News side:
The key point of the recent market is whether ETH's ETF can be passed tonight. Grayscale has updated the 19B-4 file of the spot Ethereum ETF.
If it passes, ETH will continue to rise. In another case, it will be as good as the passage of Bitcoin's ETF. If it is all out, it will be bad, and it will start to pull back! If it doesn't pass, it may be a door-painting!
Trump's US presidential campaign team accepts donations from SOL, BTC, ETH and other tokens.
The House of Representatives has announced the passage of the FIT21 cryptocurrency bill, which will bring clearer supervision to the currency circle. Clear supervision is conducive to the entry of traditional financial industries and is beneficial in the long run!
Ethereum Lianchuang deposited 10,000 ETH in Kraken, and there is a risk of preparing for shipment!
