Cut to the chase: The whales are washing out weak hands right now! From the panic bottom at 1736 all the way up to 2209, they definitely need to shake out uncommitted chips in between before going all-in for a higher push. Look at the on-chain data—the mega whales haven't dumped at all; instead, they're quietly accumulating in the 2080-2100 range. This is textbook "building momentum before a rally." Don't let short-term volatility spook you!

From the daily chart perspective, Ethereum has rebounded from the 1736 bottom all the way to 2209, and it's currently stuck oscillating back and forth in the 2000-2100 range. The pattern has already formed a W-bottom plus an ascending flag formation—the base structure is extremely solid, which indicates this decline is just a pullback in the bull market, not a trend reversal. The MACD momentum indicators DIF and DEA are charging toward the 0 axis. Once they break through 0, bullish momentum will explode completely; the Bollinger Band mid-line has already turned upward, and price is holding above the mid-line, meaning downside room is completely sealed off. Consecutive small bullish candles for days show the whales are quietly accumulating—as long as 2000 doesn't break, the subsequent surge will be even more violent!

Looking at the 4-hour Ethereum chart, after pulling back from 2209, it's been repeatedly grinding the bottom between 1980 and 2020. Now it's already holding steady above the Bollinger Band mid-line, with the EMA trend indicator and moving average system forming a bullish alignment. Long-term moving averages are leveling out and turning up; the downtrend is over and bulls have taken control of the market. MACD golden cross pointing upward indicates the short-term pullback is merely a rest stop in the uptrend, not a top. We can essentially confirm 1980-2020 as the key support level—as long as it doesn't break, the northbound trend remains intact.

Downside: 2050-2100 heading north; defend 2000; stop loss 1980; target 2120-2200; if that breaks, medium-term target 2420.

Upside: If volume expansion and divergence appear at 2180-2200, you can consider testing southbound with a trial position; stop loss 2220; don't aim too far ahead—2120 is fine; don't get greedy. The overall trend is still bullish heading north.