Ethereum Market Trend Analysis 20250617

The hourly level continues to oscillate upward. After the US stock market opened, it surged further, but around 5 AM, it began to drop rapidly, with four hourly bearish candles engulfing the day's gains, bringing the price back to the starting point of the upward trend.

The daily chart shows a small bearish candle with a long upper shadow and a short lower shadow, and the trading volume is about twice the average daily volume over the weekend. However, compared to the average daily volume on weekdays, it has not increased significantly and still falls within the normal trading volume range.

The daily MA30 line remains flat, and the MACD shows a weakening upward momentum near the zero axis.

After briefly breaking through the daily MA30 line, Ethereum quickly dropped again. Market participants have yet to reach a consensus, and the divergence remains significant. Bitcoin's decline has led to Ethereum's decline, and it has not shown a strong independent trend.

The daily level is still expected to maintain a wide oscillation trend, and the lower edge of the red box coincides with the daily EMA52 line (2425-2460), which will serve as a support level in the near term. A rebound is expected if the price drops to this level.

Daily level resistance is at 2680-2770-2960-3060, and support levels are at 2450-2320-2200-2130.