Observing ETH's recent trend, after a volume-driven breakdown, there was a clear price compression phenomenon at the key support zone. The open interest has remained high, indicating a fierce battle between bulls and bears in this area. Interestingly, there was no waterfall-style panic selling; instead, it resembles a typical bullish leverage washout process.

From a technical perspective, this movement actually hides several opportunities. The 4-hour chart has stabilized above the previous breakout structure, forming a potential bullish bat pattern framework. Multiple lower-timeframe candles show long lower shadows, indicating that buy orders are lurking below. Although the price has fallen, selling pressure has been effectively absorbed at the key area. This is not a trend reversal signal but a healthy reset.

**Technical Trading Strategy**
For a long position, enter between 2880-2920. Set the stop-loss at 2820 (rigid stop-loss that cannot be broken). The target levels are 3020 and 3120, respectively. The key is to recognize that this is a bullish washout rather than a trend reversal, and patiently waiting for confirmation signals will be more prudent.