May 24th Airborne: Morning Market Analysis of Ethereum

PANews May 24th News, market news, Ethereum spot ETF approved. Analyst James Seyffart has confirmed the authenticity of the news.

Bitcoin follows the previous article [Accurate! May 23rd: Latest Evening Market Analysis of Bitcoin] After the dive of Ethereum last night, it rebounded and rose to around 68300. Although the short position layout from yesterday did not reach the expected position of 68500, missing the short position by two hundred points was a bit regrettable. However, the long position still successfully reached the designated position, thereby gaining a profit of nearly fifteen hundred points. It can be seen that the market trend of Bitcoin is accurate. I believe that those who paid attention to my analysis must have captured a lot of profit opportunities. Let's keep it up together!

ETH/4-hour Chart

Looking at the 4-hour chart, the current price is near the middle track of the Bollinger Bands, with the Bollinger Bands widening and showing significant short-term market volatility and some adjustment pressure. The MACD indicator shows that the bullish momentum in the market is gradually weakening. The red columns are increasing, indicating that the market may be gradually losing some momentum, but overall, it is still at a relatively high level. The DIF line is below the DEA line, and both are above the zero axis. The short-term moving averages (MA5 and MA10) are higher than the medium-term moving average (MA20), and MA20 is trending upward, indicating a continued short-term positive trend. In summary, yesterday Bitcoin touched the lowest point at 3532, and the bullish sentiment has warmed up again. The current price is hovering around 3750. Overall, Ethereum is still in a strong momentum. After all, yesterday's sharp drop did not have a significant impact on Ethereum, and the price has once again risen to near the upper track of the Bollinger Bands. Therefore, overall, in the short term, attention should be paid to the resistance level of 3950.

Resistance: 3950~4100

Support: 3930

No specific recommendations for today. Whether it breaks through the 3950 level and rises to the 4100 resistance, for more real-time operations, please follow the official account: Pionex

That's all for now~~

Investment Philosophy

Emphasis: The cryptocurrency market is different from other financial investments. It is crucial to grasp the news. Without professional analysis of the news and a relative level of technical analysis, how many retail investors can avoid losses? But after suffering losses, you need to find a way. Failure is the mother of success. In fact, most people, including you who are reading this article now, must have suffered from the harsh reality at the beginning of doing business. Later, because you spent a lot of effort studying how to run the business well, constantly absorbing new information, taking advice from others, and continuous learning, you have achieved what you have now. Similarly, in spot investment, there are no undefeated generals at the beginning of entering the market. Only through continuous reflection during the process of profit and loss, identifying your own shortcomings, and then correcting them, is the most important thing. The market is not scary; what is scary is your fear of it.

Message: Investment is a long-term matter. Only by approaching investment with a mindset full of learning can your investment journey go further. If you are a retail investor, you might as well communicate with Ling Feng. Adding an analyst friend will not cause you any loss; on the contrary, it will greatly help you. If you think your teacher is very professional, do not blindly pursue making trades. You might as well ask him for more advice on techniques, trading skills, and market judgment. I believe your teacher will be happy to teach you. Furthermore, add Pionex to communicate with me, and I will be happy to help you. If you are losing money on the investment road, or if you have recently been in a situation of being trapped in a position, to the best of my ability, I will help you get out of the situation for free and develop a profit plan suitable for you.

The above is personal advice, for reference only. Investment involves risks, and trading should be cautious. Put risk first and then plan for profit. There is no empty talk, no exaggeration, only a solid foundation of practical experience to create stable returns for everyone. The release of the article may have delayed market changes. The mentioned price levels do not serve as trading orders. For more real-time market analysis, please follow the official account above to discuss and communicate together.

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