May 13, 2025 ETH Market Trend Analysis

Short-term Technical Analysis:

Support level of 2400 will further retrace to around 2300 (2300 is the 0.382 Fibonacci retracement support)

Resistance level around 2300-2350, which is also the lower Bollinger Band.

Bearish momentum is increasing, and a bottom divergence has appeared on the 12-hour chart, indicating a short-term need for a pullback.

Key focus on whether the pressure at 2510 can hold.

After breaking below 2400, consider a light short position, with a stop loss around 2430 when targeting 2350-2300.

The trend is still mainly bullish, so everyone should pay close attention to whether 2400 acts as effective support and whether 2500 can break through effectively.