Ethereum Market Trend Analysis 20250514 - Day 605

Yesterday, the expectation was a decline to test around 2320, but the trend remained strong, with a daily bullish candle engulfing the previous two bearish candles, and the price continues to reach new highs.

The momentum on the 2-hour level has shown signs of weakening, and this surge has created a top divergence pattern on the 2-hour level. Here, continuing to chase higher carries considerable risk; it would be safer to patiently wait for the price to pull back to the 2-hour and 4-hour EMA52 (2456 and 2320) before entering. Don't worry about missing the opportunity; Ethereum will continue to push upwards, and the pressure will increase. The daily neckline resistance level is around 2860.

Daily resistance levels are 2860-3065-3260, and support levels are 2390-2260-2160-2000.