Here’s where the market stands this afternoon: ETH is around 1.2755, up 2.08% over 24 hours.

The intraday range is 1.2420 to 1.2914, with a trading volume of 106 million USDT. Neither bulls nor bears are making any big moves right now; both sides are waiting for a signal.

If volume picks up and ETH breaks above 1.2914 this afternoon, it would suggest the bulls still have some fight left. On the other hand, if it retests 1.2420 and fails to hold, this rally may be coming to an end. For those trading futures, the worst thing to do right now is bet heavily 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 play?

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