2,290 ETH, are you going to buy the dip?

Whales suddenly transferred 220k ETH to Anquan, worth $526 million, core developers also released 49.6 million unstaked assets, CPI expectations soared to 3.7%—just now, RSI dropped directly to 14-25, deeply in oversold territory. Technicals broke below all key moving averages, market panic everywhere.

First look at the surface: bad news piling up, blood flowing freely.

In the past 24 hours, it dropped to 2292, market cap evaporated to 276 billion, 24-hour trading volume over 1.5 billion. The candlestick chart shows: price has been oscillating in the 2200-2400 range for two months, today it broke through all short-term moving averages, MACD is close to a death cross, RSI oversold to 14.

First thing: whales and developers are both selling.

BitForex founder-related address transferred 220k ETH to Binance, worth $526 million.

At the same time, core developers released $49.6 million of unstaked assets.

Once the news broke, the market panicked. ETH/BTC ratio dropped to 0.0284, down 9% in a month.

Second thing: fundamentals are quietly upgrading, but no one notices.

Glamsterdam upgrade (launched in June)—L1 throughput increased 3x, gas cap hit 200 million, parallel execution capabilities greatly enhanced. Hegotá upgrade (H2)—Verkle Trees reduce node storage by 90%, almost achieving stateless clients.

On one side:

- Whales dumped $526 million, developers are fleeing

- CPI expectation 3.7%, macro tightening

- RSI oversold to 14, technical collapse

- ETF continues to see small outflows

On the other side:

- Glamsterdam + Hegotá dual upgrades imminent

- Institutional tokenization accelerates, deep integration with traditional finance

- Corporate holdings + staking, liquidity locked

- 37% of supply staked, deflationary pressure persists

Key levels at 2200-2290, the last line of defense for bulls and bears.

Resistance above: 2340 → 2360-2400 (MA critical line) → 2500

Support below: 2200 (bottom of the range) → 2100 (psychological level) → 1700 (yearly low)

Short-term traders:

Don’t rush to buy the dip. Wait for RSI to rebound from 14 above 30, or for the price to hold above 2200 without breaking down, then lightly add longs. Stop-loss at 2150, target 2340-2360. If it breaks below 2200, stay on the sidelines and don’t fight the trend.

Swing traders:

Wait for the daily close to regain above 2360 (50-day and 200-day MA convergence zone), confirm main force returning before entering. Target 2500-2750, stop-loss at 2250. Don’t guess the bottom, just follow the trend.

Long-term believers:

DCA below 2200, buy in stages, add every $50 drop. End-of-2026 target 3000-3500, betting on Glamsterdam + Hegotá upgrades landing + macro turning. But remember—if CPI really spikes above 3.7%, ETH might first drop to 2100, don’t go all-in blindly.

ETH now is like June 2022—

Fell from 1800 to 1000, everyone said “Ethereum is going to zero,” but three months later, it tripled.

At 2200, do you dare to hold? #Gate广场五月交易分享 #TROLL两日涨超160% $BTC $ETH