ETH's current market situation is honestly a war of attrition. The 2980 level is firmly stuck, with weak upward momentum and no strength in the downward move. It keeps oscillating back and forth, repeatedly hammered in the short term, and there’s no clear rhythm in the medium term. Ultimately, it’s a psychological game.

From a technical perspective, the support zone is clearly between 2880 and 2900, while the resistance level is solidly at 3050 to 3070. Caught in the middle, with a top above and a bottom below, the space is locked.

But don’t be fooled by the surface calm. Secretly, funds are quietly flowing, open interest in futures is increasing, and spot holdings are continuously net outflowing—this combination of signals indicates that selling pressure is waning, and the chips are consolidating into the hands of those who can hold. This is a classic rhythm before a major capital push.

The key point is that there’s no volume surge. Any upward or downward breakout should be treated as a false breakout until volume confirms the move.

If you are heavily invested, consider reducing your position when the price rebounds to the 2950-3050 range. Don’t stubbornly hold in a downtrend. For light or no positions, there’s no need to rush; having cash on hand gives you the initiative. Either patiently wait for volume to stabilize above 3050 or wait until the market is extremely panicked near 2600 before taking action.

Consolidation won’t last forever; a direction must be chosen. My trading logic is simple—don’t follow emotions, only look at structure and capital flow, knowing when to wait patiently and when to act decisively.