Ethereum Market Trend Analysis 20250510 - Day 601

The daily candlestick is a bullish candle with an upper shadow, and the trading volume is slightly higher than the previous day, continuing to maintain an upward trend with increased volume.

The large bullish candles over the past two days have consumed bullish momentum, and a short-term correction is needed. Yesterday, the price peaked around 2500, which is exactly the midpoint of the decline in February, also serving as a neckline resistance level. In the 2500-2900 range, there are quite a few trapped positions, so it won't surge directly in one go.

The best scenario is to return to the 2120-2320 range for consolidation, shaking out those trapped positions, and also clearing out the bottom positions, before making a rise.

Daily resistance levels are 2450-2510-2690, and support levels are 2240-2120-2000-1890-1740.