Ethereum Market Trend Analysis 20250505 - Day 596

The weekly chart shows a small bullish candlestick with a cross star pattern, and the trading volume is about two-thirds of the previous week, which is considered a normal trading volume pattern.

From the perspective of the weekly candlestick combination, the bottom pattern has already formed, but the weekly MA30 line is still in a downward trend, and the price is relatively far from the MA30 line, so there is still a need for a rebound from an oversold condition. The MACD shows a weakening downward momentum below the zero axis. If this week closes with a relatively long bullish candlestick, then the MACD fast and slow lines will form a golden cross, indicating that the price will continue to rise in the coming weeks.

The upward trend at the weekly level for Bitcoin has been confirmed, so Ethereum will definitely follow suit. Currently, Ethereum is showing relatively weaker performance, but there is a possibility of a strong upward breakout in the future.

The upward target level at the weekly level is in the 2300-2500 range, so patience is required.