Ethereum Market Trend Analysis 20250515 - Day 606

The spike yesterday led to a top divergence pattern on the 2-hour level, and the 2-hour level is no longer sufficient to support a continued price increase. Therefore, the price has been fluctuating downward throughout the day yesterday, and it is currently oscillating near the 2-hour MA30 line.

In the short term, there is still energy for further upward movement at the hourly level, but the energy is relatively weak, making it easy to spike up and then come down, followed by a decline towards the support levels of the 4-hour or 8-hour charts, before rebounding upward again.

As mentioned yesterday, if the price continues to rise, the pressure will increase, so do not chase the highs; it is safer to wait for a price pullback before entering.

For short-term long positions, the entry range can be set at 2510-2360, and for short positions, the entry range can be 2750-2860.

On the daily chart, the resistance levels are 2860-3065-3260, and the support levels are 2360-2260-2160-2000.