Ethereum Market Trend Analysis 20250503 - Day 594

The daily chart of Ethereum shows another Doji candlestick. There isn't much to say at the daily level; the sideways, low-volume fluctuations won't last forever, and a direction will soon be chosen. Patience is necessary; as long as Bitcoin doesn't drop, Ethereum could see a large bullish candlestick at any time.

The view is consistent with yesterday:

The daily line is already close to the daily EMA52 line. The daily MA30 line, which has been in a downtrend, is gradually flattening. The MACD fast line has crossed above the zero line, while the slow line is sticking close to the zero line, showing a slight weakening of upward momentum. With this MACD trend, just one bullish candlestick will continue to transition into stronger upward momentum.

The daily EMA52 line no longer constitutes a resistance level, making it easier for prices to rise and break through. Next, we just need to wait for a large bullish candlestick to break through. After the breakout, the target for the upward movement will be at 2000, followed by the positions of the two blue lines.

The upward trend at the Bitcoin weekly level has been confirmed, so any pullbacks are buying opportunities for Ethereum.

Daily level resistance points: 2000-2120-2310, support points: 1740-1690-1540-1460