ETH is currently in a "trend framework still intact, short-term momentum somewhat weak, and a trend reversal approaching" state. The daily oversold + 4-hour hidden divergence provides conditions for a rebound, but increased selling volume and low fear index indicate a lack of market confidence. The Bollinger Bands narrowing suggests a high probability of a directional breakout in the next 1-2 weeks—key resistance at 2,371-2,400, and support at 2,258-2,283. The divergence between on-chain active addresses reaching a new high and the price trend is a positive mid-term signal worth paying attention to.