The recent trend of Ethereum (ETH) is influenced by multiple factors. At the beginning of 2025, after bottoming out at $1400, the ETH price rebounded to about $1800, indicating short-term bottom signals, but the overall trend remains weak, with weekly charts showing bottom divergence and oversold conditions, suggesting a possible rebound. However, ETH continues to stay below the 20, 50, and 200-day moving averages, with resistance levels at $1700-$2600, and RSI around 41.39, indicating insufficient momentum. Trump's pause on some tariffs may boost market sentiment, providing short-term benefits for ETH, but the escalation of the China-U.S. trade war could exacerbate economic uncertainty and suppress prices. The Pectra upgrade (May 7) will enhance network efficiency, potentially benefiting long-term. It is expected that ETH will fluctuate in the short term between $1500-$2500, needing to break through $2000 to confirm a rebound, and investors should pay attention to macroeconomic and technical changes.