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Factors making ETH still tend to be bullish this month:
Large whale accumulation (over 140K ETH bought by whales)
ETF inflow starting to turn positive again
ETH supply tightening due to high staking (~30% of supply locked)
Market pricing in Ethereum upgrade “Glamsterdam” sentiment
Brief conclusion:
Short term: still ranging bullish
Mid term May 2026: bullish bias as long as above $2,200
A major new pump trigger is only valid if ETH reclaims $2,400+