Ethereum Technical Analysis: 5 MAY 2025
Ethereum is inside an ascending trend. Source: TradingView
General View
Ethereum continues to trade within a well-defined ascending channel, maintaining its broader uptrend. After a brief dip towards the lower boundary of the channel, price action has rebounded convincingly, hinting at continued bullish intent. The structure is currently showing signs of forming a potential bull flag, suggesting that bulls are not yet ready to give up control. Importantly, the EMA-50 on the 12-hour chart has once again proven to be a critical dynamic support level, consistently negating bearish developments.
On The Upside
Upside momentum now rests on reclaiming the $1850 resistance level, which coincides with the channel midline that previously acted as an intra-day resistance. This level has been rejecting bulls from exercising their strength for the last few days. A successful breakout above this region could open the door for a move toward the channel top.
On The Downside
For Ethereum, the immediate support lies at the ascending trendline near the $1770 level. This level also coincides with the EMA-50 support level. As long as the channel and dynamic level hold, bulls are in a comfortable spot. However, if this level breaks, things will get challenging for bulls. Meanwhile, there is additional intra-day resistance at $1810.
Ethereum’s EMA-50 remains the major support level. Source: TradingView
