Ethereum fell back after touching $2600 at night: According to monitoring by Phoenix Finance and Coin World, ETH briefly broke through $2600 (highest at $2619.94 USDT) in the early hours of May 11, but quickly fell back to $2581 due to selling pressure from whales, with a 24-hour volatility of 4.8%. On-chain data shows that an anonymous address sold 12,000 ETH (worth $31.2 million) at the moment of the breakout, triggering liquidations of over $47 million in long positions in the derivatives market. The current ETH price is $2525, and the technical analysis shows a 'false breakout' pattern, requiring close attention to the long and short battle in the $2550-$2600 range. Matrixport warns that if the weekly line cannot hold above $2600, it may retest the support level at $2350.