Ethereum Market Trend Analysis 20250516 - Day 607

The hourly trend is basically synchronized with Bitcoin, but it is not as strong as Bitcoin.

Yesterday, it was mentioned that a divergence pattern has appeared on the 2-hour level, and the price is moving in a downward trend on the 2-hour level. Currently, the price is fluctuating near the 2-hour EMA52 line, and the 2-hour MACD has crossed below the zero line, so the 2-hour level does not provide support, making it easier for the price to continue to drop to seek support at the 4-hour, 6-hour, and 8-hour EMA52 lines (2398-2290-2210), before continuing to rebound and rise.

If the short-term long position given yesterday was entered at 2510, it has achieved a maximum increase of about 3.4%. The next entry point for short-term long positions is near the 4-hour EMA52 line, which is around 2398, and should yield good returns.

Daily level resistance is at 2860-3065-3260, and support is at 2398-2290-2160-2000.