$ETH Tonight’s price action— I’ve gone over the order book several times. The 2499 level is really a masterful pinch point. Over the past 24 hours, the trading volume was 3.16 million lots; compared to the previous two days, it’s clearly an expansion in volume. But the price just can’t move up or down—it’s hovering. That’s typical of capital waiting for a direction. The on-chain data is even more interesting. The large-holder addresses haven’t been idle these past two days; they’ve transferred a lot to exchanges in batches. This kind of move is either preparation to distribute/sell off, or preparation to accumulate liquidity before a rally—anyway, it’s not something retail traders do. Community sentiment is a bit split right now: one group is watching the high at 2504 and shouting for a breakout; the other group is looking at the low at 2431 and saying it still needs to retrace. The long/short ratio is also hovering around 1:1, so no one has a sure bet. My own take: don’t rush to pick sides at this point. Volume is there, but before the direction becomes clear, trading short-term is essentially a gamble.