Seeing this chart, my first reaction as an experienced trader is two words: tug-of-war, ETH's current movement is just a back-and-forth struggle at the 3320 position, neither side has been able to make a decisive move.


Look at the details, the hourly line, closing at 3322.5, almost flat with the opening price of 3321.18, just up 0.04%, but both upper and lower shadows have extended out, the highest reached 3335, the lowest dropped to 3313, what does this indicate? It indicates that there is selling pressure when pushing upwards and buying support when pushing downwards, both sides are in a temporary stalemate in this narrow space.
Looking at the moving averages, MA7 is at 3312, MA30 is at 3218, the short-term line is above the long-term line, the overall structure is not broken yet, but the problem is that the price is currently hovering near MA7, without forming strong support or momentum, it is in a suspended state, quite ambiguous.
Volume is another key factor. The one-hour trading volume is 89,000, compared to the estimated 90,000, which is within normal range, neither too hot nor too cold. Looking at the average volume line below, the MA5 volume is 87,000, and the MA10 is 125,000. The short-term average volume is lower than the mid-term, indicating that the activity level has been declining in recent days. This does not exhibit the characteristics of volume that initiates a major market trend, but rather resembles a consolidation period after intense competition.
Therefore, my view is very clear: the short-term direction is unclear. The momentum from the previous uptrend has almost been exhausted, and we are now entering a phase of high-level consolidation. Both bulls and bears are waiting for a signal, which could come from external news or a breakthrough at a key price level.
To my followers, let me talk about what to do next. First, if you are a short-term player, it’s best to take a step back and observe from this position. Don't get anxious watching the K-line fluctuate; chasing after price movements in such narrow fluctuations can easily lead to losses and has very low cost-effectiveness.
Second, we need to wait for a clear signal. To the upside, we must see a significant increase in volume and a stable breakthrough of the recent high point area between 3340 and 3350. To the downside, we need to effectively break below the 3300 level and close below the MA7 moving average of 3312. Let's wait for the market to choose its direction, and we will follow, which is much more reliable than guessing.
Third, if you already have positions, whether long or short, during this chaotic period, you must set your stop-loss and take-profit levels appropriately and strictly execute them. It is recommended to set stop-loss orders outside the consolidation range, such as placing a long position below 3300 and a short position above 3350, allowing the market some room for fluctuation while also protecting yourself from unexpected losses.
In summary, the market will not remain in consolidation forever. Stay calm and wait. Pulling back your fists is for delivering a stronger punch next time. Until the direction is clear, protecting your capital is the greatest victory.