#ETH price is currently in a structure characterized by "high-level stagnation with small timeframe pullback" confronting "large timeframe bullish trend." The core pattern is a descending triangle with support near 2125; the current price of 2120 has slightly broken below this level, which is a dangerous early warning signal. On the larger timeframe, although the daily chart is dominated by bulls, price is clinging to the upper band at 2156.33, with RSI reaching 72.2, which is in overbought territory. Upside space is compressed, creating a strong technical pullback requirement. The 4-hour and 1-hour charts, while showing strong bullish structure, are already showing signs of exhaustion, with price and RSI/MACD forming the embryo of a bearish divergence. The key conflict lies in: the 4-hour uptrend confronting the daily chart's overbought resistance and the small timeframe (15-minute) bearish structure. The core choice currently facing the market is: can price hold above the 4-hour moving average cluster support (2064-2071) and bottom out in the 2110-2125 zone to reorganize for an upside push; or will it effectively break below the descending triangle's lower band at 2114.66, confirming a deeper pullback and testing the dense support zone at 2089-2100?