ETH delivered a textbook-level price action today: starting from the 2085 low, 4H saw three consecutive large bullish candles driving 153 points up to the 2288 high, a gain exceeding 7.5%.

The core drivers came from two volume breakouts——the first wave at 1H level went directly from 2112 to 2183 (Vol 40M), the second wave from 2179 to 2255 (Vol 50M), both accompanied by massive volume confirmation. However, the 2288 high saw classic liquidity sweep: after 5M level spiked higher, it instantly pulled back, with upper wick + 7M massive volume followed by a sharp drop to 2260, then entered a 2260-2270 range consolidation.

1H closed a large bearish candle from 2279 to 2260 (-19 points), the first bearish body candle in this rally. Current 4H structure remains intact (three large bullish candles unbroken), 1H has not yet broken the key 2255 CHoCH level, but short-term momentum has clearly exhausted, with 15M and 5M in consecutive volume compression consolidation. 2260 has been tested over four times, each time holding but with decreasing rebound strength. Bulls need to reclaim above 2271 to prove sustained strength, otherwise continued volume compression and slight decline risks breaking 2260 and testing 2255. Currently in a game zone——avoid chasing rallies or panic selling, wait for key level breakouts before entering. Operationally, prioritize going long on 4H trend pullbacks, but must wait for confirmation signals, cannot take naked support. Short requires stricter conditions——at least 1H structure breakdown to justify counter-trend shorting.