Today's Early Session Volume #ETH走势分析

As of May 14, 2025, the price of Ethereum (ETH) has shown significant fluctuations, breaking through $2700 this morning, peaking at $2716, with a 24-hour increase of 9.99%. It then retreated to around $2669, with trading volume increasing to $27.626 billion, indicating high market activity 359. Current market characteristics are as follows:

1. Technical Breakthrough and Resistance Game

ETH's daily chart has broken through the ascending flag pattern, with the EMA trend indicator expanding upwards, and the MACD showing strong bullish momentum in the short term. However, there is key resistance in the $2750-$2800 range, and the four-hour chart shows the upper Bollinger Band under pressure, with K-line forming a top divergence signal. If it fails to break through $2750, it may trigger a pullback, with support levels in the $2600-$2630 range 145. Whale addresses have been continuously accumulating recently, but some profit-taking has been seen with sales above $2700, intensifying short-term volatility 68.

2. Macroeconomic and Market Sentiment Divergence

The easing of US-China tariff agreements and the upcoming US CPI data release have boosted risk appetite, driving ETH upward. However, concerns remain about the approval of Ethereum's spot ETF (expected deadline April 9), and if the staking yield mechanism is not resolved, institutional funds may flow to Bitcoin or other public chains 210. Additionally, the recent short covering in the futures market has consumed a lot of momentum, raising caution about potential pullback risks 68.

3. Ecosystem and Funding Support

Ethereum's TVL has reached a three-year high ($77.5 billion), but declining network fees limit ETH's deflationary effect. The Pectra upgrade (increasing staking limits and optimizing account abstraction) enhances technical confidence, but Layer 2 expansion dilutes the value of the mainnet, with competing public chains like Solana siphoning users and capital 210. The US Bitcoin spot ETF continues to attract funds, while the outflow of ETH ETF funds indicates divergent institutional preferences, necessitating attention to subsequent policy trends 710.

4. Risks and Market Outlook

In the short term, attention should be paid to the resistance breakout at $2750; if successful, it may challenge the psychological threshold of $3000. If the CPI data exceeds expectations or the ETF faces obstacles, it may retest the $2550-$2600 support level. In the medium to long term, reforms in the staking economy (such as EIP-7251) and the narrative of RWA (Real World Asset tokenization) may serve as key catalysts 210. The current market struggle between bulls and bears is intensifying, and it is advisable to control leverage and monitor the dynamics of on-chain whales.

Figure 2 Stop Loss Go Figure 1 Play