ETH Key Focus Today:

1. The $2,220 defense line is a life-and-death line: daily SAR + 4-hour SAR + today's lowest triple overlap. Once broken, both the 4-hour and daily charts turn bearish, opening downward space to $2,140 or even $2,060. All positions should prioritize $2,220 as the primary risk control reference.
2. EF selling + increased volume decline double supply pressure: Ethereum Foundation continues OTC sales + unlocking $48.9 million in staking, combined with a 36% surge in 24-hour trading volume but a 0.93% price decline, indicating medium-term supply pressure is obvious. After a rebound, it may be suppressed again by selling, so chasing the rally is not advisable.
3. Bollinger Band contraction and trend reversal risk: Two days of contraction + price probing new lows, increasing the probability of downward breakout. During the trend change, volatility may suddenly amplify, making position control especially important.
One sentence summary: ETH today is battling between the $2,220 life-and-death line and the $2,310 resistance line. In a bearish pattern, it is preferable to hold light short positions or wait and see; if $2,220 is defended again precisely, cautious long entries can be considered, but the rebound strength is limited and chasing the rally is not recommended; if $2,220 is broken, the market turns fully bearish, with downward space opening to $2,140-$2,060.