The current ETH spot and futures market is in a weak oscillation pattern, with prices significantly below the medium to long-term moving averages (MA200) and average holding costs, indicating an overall bearish trend. However, the market has not shown extreme panic, as the 24-hour trading volume has increased and buying pressure is significant, suggesting a strong willingness to bottom out near key support levels. The market is experiencing a phase of consolidation in the tug-of-war between bulls and bears.

Key prices and range structure

1. Value anchoring zone: According to VPVR, the value anchor (POC) for this round of competition is at 3032.45, while the value area ranges from 2824.54 to 3198.78. The current price of 2822.67 is right at the lower edge of the value area, which is a critical boundary for determining whether the price has entered an oversold zone or is reverting to value. If the price stabilizes above this area, it is expected to return to the POC; if it breaks below, it may look for new support levels.