5.18 Evening Market Overview: Is ETH Really Breaking Through or Just a False Break

Ethereum has a strong effective support at 2465 below, and it is currently oscillating in the narrow range of 2465-2514, with a fluctuation of nearly 50 points; gaining 50 points at once is already quite good for Ethereum

ETH is still moving in a descending wedge channel, repeatedly trading around the upper and lower trend lines; 2521 is the resistance level above, still trading based on true and false breakouts like BTC in the morning; the large coin has already reduced its long position by 70% this morning, with the remaining position held until the next target.

After Ethereum breaks through and stabilizes at 2524.64, enter long positions in the direction of the trend, with a stop loss at 2500, targeting 2585 and 2610; alternatively, wait for Ethereum to break through and then drop below 2521.64 to enter short positions in the direction of the trend, with a stop loss at the breakout point, targeting 2465.

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