$2310 for $ETH , do you want to chase?

Bitmine just invested $9.48 billion and locked 4.19 million ETH into staking, LayerZero spent $23 million rushing into DeFi, BlackRock explicitly stated “ETH is the core of tokenization”—but what about the price? Halved from the high of $4,950 to now, like a boxer who took two punches, staggering but not falling.
First look at the surface: good news piled high, but the price moves like a turtle.
In the past 24 hours, ETH rose 2.65%, climbing from 2250 to 2310. But don’t celebrate too early—the candlestick chart shows the MACD histogram dropping from 3.17 to 2.14, the price is rising, but the momentum is leaking.
First thing: institutions don’t just talk about being bullish, they vote with their money.
Bitmine locked 4.19 million ETH into staking, accounting for 10.5% of the total network staking. LayerZero invested 10k ETH into Aave for liquidity. Meanwhile, BlackRock’s 2026 outlook lists ETH as a core RWA tokenization track.
Second thing: May is mystical, but data doesn’t lie.
Historically, ETH’s average gain in May is 34.7%, with a median of 18.4%. The past two months (March-April) have already formed a pattern of small bullish candles bottoming out, creating a classic “low-position buildup + strong month” combo.
Third thing: fundamentals are still the strongest.
Ethereum + Layer 2 total TVL accounts for 50-60% of the entire market, stablecoin issuance makes up over half of the global total, and 33% of supply is already staked. Pectra upgrade has been implemented, Glamsterdam and Hegotá are about to launch. Without ETH, the entire DeFi ecosystem would grind to a halt.
Fourth thing: but there’s a warning you need to see.
ETF net outflows have continued for four days, totaling $23.64 million, with BlackRock’s ETH AUM being redeemed. Also, an address cleared out hundreds of wallets that had been dormant for 7 years.
On one side: institutional staking, DeFi investments, mystical May, unbeatable fundamentals.
On the other side: ETF outflows, security incidents, declining momentum, high interest rates pressing down.
Key level: 2230, the last bottom line for bulls and bears.
If you’re a short-term trader: try a small long near 2310, stop-loss at 2270, target 2370-2460. Break below 2270 and exit, don’t hold, next stop is 2230.
If you’re a long-term investor: build positions gradually between 2230-2280, total position 30-50%, stop-loss at 2200. First target 3000-3200 (May-June), second target 4000+ (end of year). Buy on dips, take profits on rises, don’t chop back and forth.
ETH now is like BTC at the end of 2020—everyone thought “it’s old, it can’t run anymore,” but what happened? $ETH ‌#Gate广场五月交易分享