The afternoon market has reached this point: ETH is hovering around 1.2879, down 0.57% over 24 hours.

The intraday range is 1.2733 to 1.3109, with a trading volume of 84 million USDT. Neither bulls nor bears are making any big moves right now; both sides are waiting for a signal.

If volume picks up this afternoon and ETH breaks above 1.3109, it would suggest the bulls still have some fight left. On the other hand, if it retests 1.2733 and fails to hold, this rally may be coming to an end. For futures traders, the last thing you want to do right now is place a heavy bet on one direction—you could easily get wiped out by a sudden move.

Are you sitting on the sidelines this afternoon, or making a short-term trade?

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