Ethereum Market Trend Analysis 20250520

The hourly trend is synchronized with Bitcoin, experiencing rapid declines followed by rebounds, then more declines and rebounds, resulting in a frenzied plundering of contract liquidity.

The daily line shows a small bullish candle with a long lower shadow and a short upper shadow, with trading volume slightly higher than the previous day, indicating a basically stable state.

The daily MACD is showing weakening upward momentum at a distance above the zero axis, with the fast and slow lines nearing a death cross formation. If today closes with a bearish candle, then the MACD will form a death cross, leading to a wave of daily-level oscillating downward adjustment.

Currently, this wave of Ethereum's increase is driven by 12-hour level momentum, with the price retracing to the 8-hour EMA 52 line and 12-hour MA 30 line forming a rebound. The strong support level is around 2230; retracing here and then continuing to rise would be healthier.

Recent price movements have been highly volatile; conservatively speaking, setting a stop loss at the 2700/2800 integer levels for short positions, and going long at the 2230 support level.

Daily level resistance levels are 2750-2860-3065-3260, and support levels are 2320-2230-2160-2000.