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These past two days, Ethereum $ETH surged to a high of 2343.56, then quickly pulled back.
The reason for the surge is very simple.
The US CLARITY Act proposal designates ETH as a digital commodity under CFTC jurisdiction, which makes ETH's market position more compliant, resolving long-standing uncertainty with the SEC.
With institutional backing, more people will see and buy ETH.
Once the bill is passed, ETH's spot funds have been continuously flowing in positively.
This rapid rise is caused by positive news, but at the same time, there is still strong selling pressure above, so it quickly pulls back and consolidates around 2300.
Previously, Jiang Ge also said that as long as it breaks through 2325, it can go short.
Now, this view is validated, with the current position around 2300-2315, showing clear tug-of-war between bulls and bears, and increasing emotional divergence.
The strong resistance zone is between 2400-2500, and the strongest core support is at 2200.
Ethereum will determine the overall trend for May within the next 48 hours—either breaking through to trend higher or retracing to rebuild structure.
The current position is not the end, but a watershed $ETH .