ETH is currently in a consolidation correction phase:

Bullish perspective: The 4-hour trend has not fully broken down yet. Holding above the key support at $2,300 could lead to forming higher lows and continuing to push above $2,400; ongoing ETF fund inflows provide fundamental support.
Bearish perspective: Short-term bearish alignment + MACD death cross, with increased selling volume indicating selling pressure. If it breaks below $2,300, it may test $2,285 or even $2,233; DeFi security incidents may continue to suppress market sentiment.
Trading advice: Mainly observe in the short term, waiting for confirmation of support at $2,300. Long positions can set stop-loss below $2,285; if it holds above $2,300 and stabilizes, consider low buying; if volume increases and it breaks down, be alert to the risk of a deep correction.