ETH today's movement has shown textbook-level price action: starting from the 2085 low point, 4H has seen three consecutive large bullish candles pushing up 153 points to the 2288 high, with gains exceeding 7.5%.

The core driving forces came from two waves of 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, at the 2288 high point, a classic liquidity sweep occurred: after 5M level spiked higher, it instantly fell back, with an upper wick + 7M massive volume followed by a sharp drop to 2260, subsequently entering a 2260-2270 range-bound consolidation.

1H closed with a large bearish candle from 2279 to 2260 (-19 points), the first substantial bearish candle in this rally. Currently, the 4H structure remains intact (three large bullish candles unbroken), 1H has not yet broken below the 2255 key CHoCH level, but short-term momentum has clearly weakened, with 15M and 5M showing consecutive volume contraction and consolidation. 2260 has been tested 4+ times, holding each time but with diminishing rebound strength. Bulls need to reclaim above 2271 to prove sustained strength, otherwise prolonged volume contraction and gradual decline risks breaking 2260 and further testing 2255. Currently in a game zone, avoid chasing rallies or panic selling; enter only after key level breakouts. Operationally, prioritize long pullbacks following the 4H major trend, but must wait for confirmation signals—cannot blindly catch support. Shorting requires stricter conditions—at least 1H structure breakdown is worth considering counter-trend shorts.