#Gate广场五月交易分享 Ethereum Market Analysis

1. Price Trend
The trend is noticeably weaker than Bitcoin, showing typical passive following characteristics.
After reaching a high of $2,422 in early May, it retreated, and on May 13, it oscillated between $2,270 and $2,340.
30-day increase of 3.89%, 90-day increase of 8.76%, significantly lagging behind Bitcoin's performance.

2. Technical Analysis
Daily chart: Price has only broken above the MA5 moving average, with the MA20 around $2,320 forming resistance; MACD shows a golden cross but with a short red histogram, RSI has fallen back to 52, indicating insufficient bullish momentum.
Four-hour chart: Forms a descending triangle pattern; if it breaks below the $2,270 support, further decline may occur.

Key support levels:
$2,270: This round of correction low + short-term trendline support
$2,220: MA50 moving average
$2,150: 100-day EMA, medium-term strong support

Key resistance levels:
$2,320: MA20 moving average + four-hour descending trendline
$2,400: Previous key platform + strong resistance
$2,550: Medium-term target level

3. Capital and On-Chain Data
Ethereum spot ETF capital inflow has slowed, with preliminary data on May 13 showing a net inflow of about $30 million, with institutional allocation priorities lower than Bitcoin.
Gas fees remain low at 15-20 gwei, on-chain activity is moderate, and DeFi and NFT markets are trading lightly.
Market funds are still concentrated in Bitcoin, with Ethereum and altcoins showing weak follow-through, and capital divergence is evident.