ETH sharply crashes from a high level! The attempt to break through 2320 fails, and bulls and bears battle at the 2200 level (April 12 Market In-Depth Analysis)

1. Market Overview (April 12)

Current Ethereum ETH latest price: 2226.2 USDT. From the latest K-line trend, after hitting the high of 2329.99, ETH experienced a clear waterfall-style correction, breaking through multiple short-term support lines in a short period, and market sentiment quickly cooled down.

The core structure of this wave is very typical:

Rally to lure buyers → Rapid decline → Technical retracement

Currently, the price is attempting to stabilize around 2200, and the short-term market has entered a phase of rebalancing between bulls and bears.

Key technical zones today:

Short-term resistance: 2250
Strong resistance: 2300
Short-term support: 2200
Critical defense level: 2170

If 2200 can hold steady, ETH still has a chance to re-enter a oscillating rebound structure.

2. Daily Chart Analysis (Trend Structure)

From the daily chart perspective, ETH remains in a technical adjustment phase within an overall oscillating upward trend.

Recent daily movements show:

Gradually rising lows + Testing new highs continuously

This is a typical ascending trend structure.

But it’s important to note that the recent rise from 2050 to 2330 has exceeded 13%, and the market faces obvious profit-taking pressure in the short term.

Current signals from the daily chart:

High-level rally and pullback
Appearance of long upper shadows
Market short-term funds exiting

Indicating the market is entering a phase of adjustment.

If the daily chart can hold the support at 2170, the overall upward structure remains intact.

Daily key zones:

Upside targets:

2350
2400
2480

Pullback supports:

2200
2170
2120
3.4-Hour Level Analysis (Core Trading Cycle)

The 4-hour cycle is the most critical level for judging ETH’s short-term trend right now.

Structurally, ETH has been operating within an ascending channel, but the recent rapid decline has broken below the lower boundary of the short-term channel.

This suggests the market may enter:

A high-level oscillation and adjustment phase

4-hour K-line features:

Consecutive large bearish candles
Volume significantly increased
Bull short-term profit-taking evident

The current price is building a short-term support platform around 2200.

If the 4-hour chart can re-establish above 2240,

the market may retest:

2270
2300

If it continues to fall below 2200,

it may further retest:

2170
2140
4.1-Hour Level Analysis (Short-term Trading)

From the 1-hour chart, ETH has just formed a typical waterfall decline structure.

Characteristics:

Continuous long bearish candles
Volume suddenly surges
Short-term panic sentiment releases

Currently, the price is forming a technical rebound structure.

Key short-term levels:

Rebound resistance:

2240
2260

Support levels:

2200
2175

If the 1-hour chart can break through 2240,

a short-term rebound wave may occur:

Targets:

2260
2290

If it falls below 2200,

a new round of stop-loss triggers may be activated:

Correction targets:

2170
2140
5. Main Capital Behavior Analysis

Combining this wave of K-line movements, the typical trading rhythm of main funds is clearly visible:

First phase: Funds rally

2200 → 2330

Second phase: High-level lure

Oscillation around 2320

Third phase: Rapid sell-off

2320 → 2200

This pattern is very common in bull markets, essentially representing:

High-level shakeout behavior

Main purposes:

Clearing high-leverage longs
Reclaiming low-position chips

If ETH can re-establish above 2250 later, it indicates that this decline is more likely a shakeout rather than a trend reversal.

6. Today’s Trading Strategies (April 12)

Conservative Long Strategy

Wait for a pullback to support to go long:

2190 — 2210 long

Stop-loss:

2160

Targets:

2240
2270
2300

Short-term Rebound Short Strategy

If the price rebounds to:

2260 — 2280

Try shorting:

Target:

2220

Stop-loss:

2310

Breakout Follow-up Long Strategy

If ETH re-breaks above:

2300

Follow the trend to go long:

Stop-loss:

2260

Targets:

2350
2400
7. Key Technical Levels Today

Support zones:

2200
2170
2120

Resistance zones:

2250
2300
2350
8. Market Summary

Current ETH movement belongs to:

A high-level shakeout phase within an upward trend

The short-term market rhythm is most likely:

Rapid decline → Technical rebound → Re-choose direction

As long as 2170 is not effectively broken, the overall upward trend remains intact.

The most critical observation point moving forward is:

Whether ETH can re-establish above 2250.