ETH is currently trading within a high-level range.

It rapidly rose from around 1900 to above 2500. The price then failed to break higher and instead repeatedly washed out positions between 2400 and 2550.

Yesterday’s wick surged to around 2660. It looked very strong, but the close fell back into the range. This was a typical upside liquidity sweep: knock out the shorts first, then trap those chasing longs.

There are two key levels to watch now.

2465 is the short-term equilibrium line. If the daily chart breaks below it and fails to reclaim it, the initial downside targets are 2400–2350.

2529–2550 is the range resistance. Only a renewed breakout with rising volume and a firm hold above it would justify challenging 2660 again.

So this is neither the end of the bull market nor a place to blindly chase longs.

Hold your spot positions and don’t let the range shake you out.

For futures, trade only within the range: look for shorts near resistance and longs near support. Take profits and exit; accept the stop-loss if hit.

The true higher-timeframe defense level remains around 2218.

The current market has no directional problem, only a timing problem.