Is ETH at $2115 a bottom-buy for you?

ETF net outflows have continued for 5 months, with over $2.4 billion redeemed, and the price has been halved from the high of $4946. The Alligator indicator shows a three-line bearish alignment, MACD remains in a death cross, and the weekly chart just closed with the strongest bearish candle since 2026—yet just now, Glamsterdam upgraded and went live, gas fees plummeted, stablecoins hold 62% market share, and RWA custody reached $12.5 billion.

First, look at the surface: blood flowing in rivers, no one dares to buy.

Since 2026, the price has fallen from over $3000 by 32%, more than halved from the August 2022 high of $4946. Market cap is $255 billion, 24-hour trading volume is $12.9 billion, and 92% of the community is bullish, but capital flow is dead silent.

First thing: the ETF net outflows for 5 consecutive months are the biggest warning.

Spot ETH ETFs have redeemed over $2.4 billion, with $248 million pulled out in just one week. Institutions are selling, large holders are depositing coins into exchanges, and the spot price is being drained continuously.

Second thing: Glamsterdam upgrade has gone live, and the fundamentals are actually stronger.

Gas fees have significantly decreased, ETH burn volume has increased, Layer 2 fees have fallen again. Stablecoin issuance exceeds $59 billion, accounting for 62% of the global market; tokenized asset custody is $12.5 billion, with a 65% market share.

- On-chain transfers are cheaper, more people are willing to use

- ETH is starting to become deflationary, used less and less

- Traditional financial institutions' bonds, stocks, and real estate are moving onto ETH

Third thing: technical signals show two completely contradictory signs.

The Alligator indicator shows a three-line bearish alignment, MACD remains in a death cross, RSI is only 36—this is a typical bearish market, not yet oversold, so there’s room to fall.

But the $2100–$2050 zone is a dense area of historical trading and a psychological threshold. Last week’s weekly bearish candle was the strongest since 2026, but larger bearish candles often indicate proximity to the bottom.

One side is:

- ETF net outflows of $2.4 billion over 5 months

- Macro high interest rates, FOMC likely to hold rates in June

- Technical bearish alignment, support at $2050 → $1800

- Leverage liquidations are frequent, liquidity is draining

The other side is:

- Glamsterdam upgrade has gone live, gas fees have dropped sharply

- Stablecoins + RWA market share dominates absolutely

- Corporate treasuries are holding ETH as a yield asset

- Price has been halved from the high, at a 2026 low

Key level: $2115, below is an abyss, above is paradise.

Resistance above: $2135 → $2200 (breakthrough needed to change trend) → $2350

Support below: $2080–$2090 → $2050 → $1800–$1760 (ultimate bottom)

Short-term traders:

Wait for a light position to test long around $2050–$2080, stop-loss at $2020, target $2200. Or take a small short near $2130, stop-loss at $2160, target $2080. At this position, both sides are uncomfortable—better to wait.

Swing traders:

Close above $2200 on the daily chart + ETF turns into net inflow. Only buy in when both conditions are met, target $2800–$3500.

Long-term believers:

Start dollar-cost averaging from today. Four batches at $2115, $2050, $1950, $1850, with an average cost target of $1900–$2100. Hold ETH staking, earning 4–6% annual yield while waiting for the wind.

ETH right now is like Bitcoin in 2022—

Everyone was saying “Bitcoin is useless,” but it rose from $16,000 to $70,000.

ETH at $2115, you’re afraid to buy. When it rises to $3500, you’ll realize: it’s not that Ethereum doesn’t work, it’s that you keep catching the top and selling at the bottom. #TradFi交易分享挑战 #灰度购入超51万HYPE并质押 $BTC $ETH $HYPE