Analysis of ETH on May 10:
Yesterday, Ethereum rose in conjunction with Bitcoin, with the lowest position near 2949, and rose to around 3058. The current price began to run sideways around 3030. The overall trend of Ethereum still cannot support an independent market trend, waiting for opportunities to move!
Trend: While the overall trend is linked to Bitcoin, it is not as strong as Bitcoin. It rebounds with Bitcoin rebound, and it also has a double bottom structure at a small level. However, without the stimulation of news, Ethereum will not be able to go out of the independent market in the short term.
In terms of exchange rate, it is slightly stronger, rising by less than 1%. Although Ethereum has not strengthened, it has not weakened compared to Bitcoin. This represents the state of most cottages, all of which have entered an oversold state. The main force is waiting for Bitcoin to rebound and make markets, which is also a reason for the emergence of cottage monster coins!
Points:
Upper pressure range: 3080-3100
Lower support range: 2950-2900
