$ETH Ethereum is weakening relative to Bitcoin, the core reason being: current market funds are highly concentrated in Bitcoin, and Ethereum is facing a 4-hour trend support level at 2320-2330. If this level is broken, the daily bullish structure will be destroyed.


But conversely, as long as 2320 can hold, Ethereum has a clear demand for a rebound, and historical data shows that May is a strong month for Ethereum, while the current price is significantly lagging behind Bitcoin's gains.
Therefore, in terms of trading, around 2320 is the bottom line for the bulls; a pullback confirmation can be a long entry, targeting the resistance zone of 2400-2450. Once a confirmed breakdown of 2320 occurs, the rebound logic fails, and stop-loss exits are necessary.
ETH1.37%
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