ETH analysis for today, July 5, 2025

We are reviewing the fluctuations of ETH from yesterday. Ethereum started to fluctuate at 9:00 AM yesterday, dropping from 2600, with the first round of decline hitting a low around 2528 and then slightly rebounding to 2555. The slight rebound did not effectively stabilize above the 60-day moving average, leading to a second round of decline, which saw it drop to a low of 2473 in the early morning before slowly fluctuating upward and maintaining a sideways movement within the range of 2500 to 2520.

We look at today's ETH fluctuations: From the 1-hour candlestick chart, the Bollinger Bands show an upward convergence trend, corresponding to a range of 2566 to 2468. The middle line is trending downward, corresponding to a price of 2517, which has been tested multiple times without breaking above and stabilizing at that level. The 5-day moving average and the 10-day moving average on the 1-hour line have crossed, showing a small golden cross upward. The 5-day moving average corresponds to a price of 2510, while the 10-day moving average is horizontally trending at 2498, forming short-term support. There are two moving averages, 240 and 360, forming lower support lines, corresponding to prices of 2471 and 2436, respectively. The MACD is trending upward with a small golden cross opening trend, but the bullish momentum has not yet fully formed, so it is not strong. The market is undergoing a consolidation corresponding to the RSI indicator, which is in the overbought phase, indicating a slight downward correction may occur.
ETH direction: sideways consolidation, slight rebound upward
Resistance above: 2530, strong resistance: 2620
Support below: 2470, strong support: 2430
Current trend: After rising, it has entered a consolidation phase in a sideways range, with the consolidation range being 2500--2520. If it does not break below 2500 during a prolonged sideways movement, a slight rebound may test levels between 2535 and 2540.
Operation strategy: You can short with a small position between 2540 and 2550, add to the position at 2580, and set a stop loss. If it does not effectively break below 2470, then take a small long position!