#ETH Price is currently in a structural standoff between "high-level consolidation with minor cycle pullback" and "major cycle bullish trend." The core pattern is a descending triangle with support near 2125, and the current price of 2120 has slightly broken below this level, which is a dangerous early warning signal. On the major cycle, although the daily chart is dominated by bulls, price is clinging to the upper band of 2156.33, with RSI at 72.2, which is in the overbought zone. Upside space is compressed, and there is a strong technical correction demand. While the 4-hour and 1-hour charts show strong bullish structure, they have already shown signs of fatigue, with price forming early bearish divergence with RSI and MACD. The key conflict lies in: the 4-hour uptrend opposing the daily overbought resistance and the 15-minute minor cycle's bearish structure. The core choice currently faced is: can price find support at the 4-hour moving average cluster (2064-2071) and stop falling in the 2110-2125 zone to reorganize for another push higher; or will it effectively break below the triangle's lower band at 2114.66, confirming a deeper pullback and testing the dense support zone at 2089-2100.