ETH at $2168, do you dare to buy the dip?

Glamsterdam upgrade just went live, on-chain gas fees were cut by 78%, BlackRock bought $250 million in three days— but just now, ETFs have been outflowing $255 million for five consecutive days, large investors dumped 240k ETH on exchanges, and the price dropped from $2300 to $2168.

First, look at the surface: the upgrade is implemented, gas fees plummeted, institutions are bullish.

In the past 7 days, it’s up 6.2%, over the past 30 days, down 15%, market cap remains at $262 billion, ranking second. Glamsterdam increased execution capacity threefold, Layer 2 fees dropped another 70%, institutions like BlackRock have flowed in over $250 million in the past three days, and SharpLink announced a $2 billion ETH treasury.

The first point: Glamsterdam is a real positive, but the market is playing “buy the rumor, sell the fact.”

The largest upgrade in Ethereum history, gas fees down 78%, Layer 1 throughput tripled. If this were 2024, ETH could easily hit $3000.

But this time is different. The upgrade news has been hyped since last year, institutions have already positioned themselves early. By the time it officially launched in May, those who wanted to buy already did, leaving only short-term profit-taking dumps.

The second point: ETFs have been outflowing $255 million for five days, but big players are secretly accumulating.

On the surface, US spot ETF funds are leaving, with a net outflow of over $240k last week, and another five days of continuous outflows this week.

But look at the on-chain data—large treasuries and infrastructure companies have bought over 244k ETH recently, worth over $500 million.

The third point: technicals are already oversold, but no reversal signals have appeared.

RSI has reached extremely oversold levels, and historically, such levels have a over 70% chance of rebounding within a week.

MACD is still accelerating downward, bearish momentum remains strong. Price has broken below all major moving averages, and the short-term trend is still dominated by bears.

On one side:

- Glamsterdam upgrade is live, gas fees down 78%, ecosystem on the brink of explosion

- Institutions bought $250 million in three days, corporate treasuries added $2 billion

- 3.6 million ETH queued for staking, supply locked

- RSI oversold, historical rebound probability over 70%

On the other side:

- ETF outflows of $255 million for five days

- Large investors dumped 240k ETH on exchanges

- Macro inflation at 3.3%, Fed not cutting rates, liquidity tight

- Price below all moving averages, bearish trend not over

Key level: $2168, the dividing line between bulls and bears.

Resistance above: $2200 → $2238 → $2300 (pre-upgrade high)

Support below: $2100 → $2000 (ultimate bottom)

Short-term traders:

Buy in batches around current $2168, stop-loss at $2050, first target $2238, second target $2300. Don’t chase highs, wait for volume-confirmed bullish candles before adding. If it breaks below $2100, stay on the sidelines, don’t hold against the trend.

Swing traders:

Wait for daily close above $2200 before entering, target $2382–$2400, after breakout, look for $2600.

Long-term believers:

Dollar-cost average in the $2000–$2200 range. ETH now has the strongest fundamentals in history: gas fees down, institutions in, staking locked. End of 2026 target: $3500–$4000, betting on application explosion from this upgrade.

In the short term, macro conditions are not easing, markets are not sunny. Don’t go all-in, keep some bullets.

ETH now is like BTC at the end of 2023—

Everyone knows it will rise long-term, but few can withstand a short-term 30% correction.

At $2168 ETH, do you dare to buy? If yes, be prepared for another 10% drop. If no, wait for $2000. But when it hits $2000, are you sure you dare to buy? #Gate广场五月交易分享 #CLARITY法案参议院通关 $BTC $ETH $SOL