ETHUSD Analysis: Be Wary of the Upper Suppression

Fundamental Analysis of ETHUSD

ETHUSD Key Takeaways

• Macro warm wind and technical upgrade: Ethereum’s recent strong performance has first benefited from its inherent technological progress and the improvement of the external macro environment. On May 7, Ethereum successfully implemented the Pectra upgrade, introducing a series of key technical improvements. The recent easing of tariff sentiment and risk appetite have boosted the market price.
• Ethereum’s “Trillion-Dollar Security Plan”: Ethereum officially announced the trillion-dollar security plan last week, aiming to position Ethereum as the future settlement layer for individuals and institutions to meet the mainstream trend of real-world asset tokenization (RWA). The core of this move is to emphasize Ethereum’s stable operation time for ten years and the decentralized validator set to prove its ability to protect trillion-dollar value.

Technical Analysis of ETHUSD

ETHUSD Daily Chart Insights

• Stochastic oscillator: The indicator turns again after leaving the overbought area and is about to send a long signal, suggesting that the short-term upward trend will continue. However, it is worth noting that the market price has not been fully adjusted for the time being, and there is a probability of forming a top divergence with the indicator.
• Resistance area: Ethereum returns to the upward trend after stepping back on the purple 13-day MA and the green 200-day MA. The market price is about to break through the previous high, and the next target is the key resistance price near 2795-2800.

ETHUSD 2-hour Chart Analysis

• Stochastic oscillator:The indicator turns again after leaving the overbought area and is about to send a long signal, suggesting that the short-term upward trend will continue. However, it is worth noting that the market price is about to encounter resistance at last week’s high, and there is a probability of forming a top divergence with the indicator.
• Upward channel line: Ethereum broke through yesterday’s high after stepping back on the short-term purple 13-period MA and touched the upward channel line. There is a large pressure to adjust downward in the short term.

ETHUSD Pivot Indicator

• According to the trading central in Ultima Markets APP, the central price of the day is established at 2608,Bullish Scenario: Bullish sentiment prevails above 2608, first target 2775 , second target 2825;
• Bearish Outlook: In a bearish scenario below 2608, first target 2524, second target 2474.

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