5.11 Today's Ethereum Outlook

Ethereum today moved in tandem with Bitcoin, rising together then facing resistance and pulling back. It once again tested the 2400 level but failed to break through effectively, indicating that selling pressure above remains significant. The short-term market has entered a technical correction phase.
From a larger cycle perspective, the overall trend still follows Bitcoin's movement. The daily bullish structure has not been broken, and the medium-term sideways trend remains unchanged, leaning more towards a normal shakeout during the upward trend.
Currently, focus on the support around 2320; this level is the key dividing line for the current bullish and bearish momentum.
Trading Strategy:
If the price stabilizes after pulling back to around 2320, consider gradually accumulating long positions
The short-term target is first around 2360; once reached, consider reducing positions and taking profits
If the price effectively breaks below 2320, temporarily abandon the long position idea to avoid blindly bottom-fishing

Overall, the current market still belongs to a linked oscillation pattern, with the rhythm continuing to follow Bitcoin. In trading, prioritize low buying, avoid chasing highs, and strictly control position size and risk. #Gate广场五月交易分享 #比特币波动 #Polymarket每日热点 $BTC $ETH