Ethereum Market Trend Analysis 20250504 - Day 595

There isn't much to say about Ethereum; it has been consolidating with reduced volume, waiting for a directional choice.

Bitcoin is facing a downward adjustment, so Ethereum will likely follow suit. If Bitcoin experiences a rapid decline that drags Ethereum down, the subsequent downward spike on an hourly basis will present a great buying opportunity.

The upward trend on the weekly chart for Bitcoin has been confirmed, so any pullback provides a buying opportunity for Ethereum.

The daily chart resistance levels are 2000-2120-2310, and the support levels are 1740-1690-1540-1460.