ETH Market Trend Analysis 20250507 - Day 598

The hourly trend of Ethereum is still following Bitcoin, and there is no independent market movement for now.

At the daily level, there isn't much to say either, as it maintains a narrow range of fluctuations and is close to making a directional change. It will either explode in silence or perish in silence.

However, remember that a thin dead camel is still bigger than a horse. Even if Ethereum is to perish, there will be a bounce before it dies, so I still believe that Ethereum will experience a fairly good upward movement at the daily level, which means the trend will lean towards rising.

As for the hourly trend, whether it drops first then rises or rises directly has too many variables to predict.

We will just wait for the direction to appear.

The daily level resistance is at 2000-2120-2310, and the support level is at 1760-1690-1540-1460.